Yangzijiang wraps up roof raising on two LNG storage tanks

Yangzijiang Shipbuilding said in a statement that its unit Jiangsu Jiasheng Gas has completed roof raising of the first LNG tank on July 21.

This follows the successful roof raising of LNG storage tank No. 2 on July 2, marking the success of the core construction of the main structure of the two storage tanks, it said.

Yangzijiang stated that the project has now progressed to the stage of inner tank construction and equipment installation, laying a solid foundation for the subsequent commissioning-

Both of the storage tanks have a capacity of 100,000 cbm.

The Yangzi Jiasheng LNG peak storage and distribution project in Jiangsu involves the construction of LNG storage tanks, distribution infrastructure, and jetties.

Moreover, Yangzijiang said the project will be built in two phases, with two 100,000 cbm LNG storage tanks and related facilities in the first phase.

In the second phase, Yangzijiang plans to build one 160,000-ccbm LNG storage tank and related facilities.

The project includes the construction of two LNG jetties capable of receiving vessels with a capacity of up to 40,000 cbm.

2027

According to the group, the receiving terminal project is planned to be mechanically completed in December 2026, and to have the conditions for berthing in June 2027.

After the completion, the terminal will become an important natural gas emergency peak-shaving hub in Jiangyin and the surrounding areas, which will significantly enhance the regional natural gas reserve and supply capacity, Yangzijiang claims.

In 2023, Yangzijiang revealed it was working on an LNG storage and distribution terminal on the shore of China’s Yangtze River in order to diversify its revenue streams across the maritime chain.

Yangzijiang said at the time that its unit Jiangsu Yangzijiang purchased 100 percent of Jiangsu Jiasheng Gas for about $62.3 million.

Jiasheng Gas had a 45 percent stake in Jiangsu Yangzi Jiasheng Terminal, formerly known as Odfjell Terminals (Jiangyin).

In 2019, Yangzijiang acquired 55 percent equity interest in Jiasheng Terminal, and upon completion of the new acquisition, the group purchased 100 percent equity interest in the terminal.

Last year, Yangzijiang received the government approval to convert its fully-owned chemical terminal along the Yangtze River into an LNG terminal.

Accordin to the group, the estimated capital expenditure for the terminal conversion project and the LNG storage tank facilities is approximately RMB 1 billion ($139 million) each.