PipeChina’s Yuedong LNG terminal hits delivery record in March

PipeChina’s Yuedong LNG import terminal in southern China’s Guangdong province has received a record monthly number of vessels in March since its launch in 2017.

The Yuedong LNG terminal welcomed seven vessels with a total volume of 442,200 mt, an increase of 97.6 percent year-on-year, while the outbound volume rose almost 24 percent to 316,700 mt, according to PipeChina.

The 2008-built 155,000-cbm LNG carrier, Kmarin Diamond, delivered the seventh LNG shipment to the LNG terminal on March 31, PipeChina said.

This BP-chartered LNG carrier loaded the shipment from the Tangguh LNG plant in Indonesia, its AIS data provided by VesselValue shows.

PipeChina said these seven vessels represent the highest monthly number of carriers for the Yuedong LNG facility, guaranteeing the natural gas supply to the Guangdong-Hong Kong-Macao Greater Bay Area.

GIIGNL’s data shows that the Yuedong LNG terminal, previously operated by CNOOC, has a capacity of 4.2 mtpa and three 160,000-cbm tanks.

PipeChina operates seven LNG receiving terminals, and is building three new LNG plants.

The state-owned firm noted that the LNG market in 2023 is benefiting from the slowdown of the Covid-19 pandemic and the fall in spot LNG prices.

China received about 63.44 million tonnes of LNG last year, down 19.5 percent year on year, as Covid-19 lockdowns and high prices curbed demand for LNG in China.

The country’s LNG imports dropped by 11.9 percent in January-February to about 11.12 million tonnes.

However, China’s LNG import increased in February and the country received 5.21 million tonnes, up by 8.2 percent when compared to the last year.

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