China National Offshore Oil Company (CNOOC) said it has started building the expansion phase at its Binhai LNG import terminal in Jiangsu.
The expansion includes adding six ultra-large 270,000-cbm LNG tanks along with other facilities, CNOOC said on Wednesday.
As part of the first phase of the 3 mtpa Binhai facility, CNOOC built four 220,000-cbm LNG tanks.
CNOOC said the expansion phase has a price tag of about 6.1 billion yuan ($954 million).
The state-owned giant aims to complete the works by the end of 2023.
Following the completion, CNOOC said the facility would become the largest LNG storage project in China.
