CNOOC starts work on Binhai LNG expansion

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.

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