China's Lanqiao port to build LNG terminal

摘要

China's Lanqiao port has signed an agreement with state-owned Beijing Energy Holding to jointly invest CNY6.7 billion (USD973 million) for the construction of a liquefied natural gas (LNG) receiving station. Owned by China-based Landbridge Holdings, Lanqiao is in the Lanshan administrative region in Shandong province, south of Rizhao. Built on reclaimed land, Lanqiao port began operations in 2009 and primarily handles dry bulk cargoes and also has an oil terminal. The LNG terminal will be able to load and discharge 5 million tonnes of LNG annually. Wood Mackenzie predicted that China will overtake Japan as the world's largest LNG importer by 2022, with imports expected to reach 74 million tonnes, although disruptions to China's LNG demand are expected as a result of lower consumption caused by the coronavirus disease 2019 (COVID-19) outbreak early this year.