CHINA'S FIRST LNG IMPORT TERMINAL LE PREMIER TERMINAL D'IMPORTATION DE GNL DE CHINE

摘要

China's first LNG import terminal in Guangdong Province provides an important study in the requirements for the creation of a new gas business in an area with little gas infrastructure but a high demand for clean and efficient energy supplies. It sets a new industry marker for the rapid development of a complete gas chain, and through its innovative LNG supply requisition has revolutionized LNG pricing in the Asia-Pacific trade. To meet the growing demand in Guangdong province, and to provide a timely alternative to the predominantly coal-fired power industry, the project was required to develop rapid and cost effective delivery of LNG. With power generation comprising approximately 60% of the initial gas demand, careful coordination with the developing IPPs was necessary. Effective engineering and commercial structures were needed to ensure a reliable facility capable of delivering competitively priced gas to both power and LDC customers. With this objective, the Guangdong LNG Joint Executive Office was established in 2001, and separate competitive processes were undertaken to solicit a foreign partner to provide technical expertise and investment in the terminal, as well as for the supply of LNG. The project has now begun construction of a LNG regasification facility with two 160,000-m~3-storage tanks and a pipeline network extending approximately 360 kilometres to serve customers in the Pearl River Delta and Hong Kong. This paper presents the significant findings and conclusions of the collaborative work carried out by the Sino-foreign team, addresses the key issues of the technical challenges and commercial development, and discusses the potential impact for newly emerging gas markets including LNG pricing implications for the Asia-Pacific market.