COMMERCIAL INNOVATIONS IN THE FIRST CHINESE LNG TRANSPORTATION PROJECT

摘要

The Guangdong LNG Project (“Project”) is China’s first LNG import project. In developing the Project, China sought to achieve simultaneously a number of strategic goals in regard to energy supply diversification, industrial development and economic development. Innovative solutions had to be developed to meet the Project goal of landing LNG in China at a competitive price, while achieving the strategic goals. rnThis paper will focus on those commercial innovations that were developed for the LNG transportation segment (“LNG Shipping Project”) of the Project LNG chain. The LNG Shipping Project developed innovative and effective ways to address project startup uncertainties regarding alignment of partner objectives, coordination of ship deliveries, timing of cargo movements and sizing of cargo quantities. The innovations brought significant savings to the Project while allowing China to achieve its overall policy goals.