With PipeChina Hainan LNG Terminal's bonded warehouse put into use in 2018, China's LNG bonded warehouses have been developing rapidly in recent years.
Bonded LNG, which is stored in tanks after declaration with import duties unpaid, can be either resold to other countries after reloading, or flow into domestic market after paying duties. This move not only effectively promotes the transformation of LNG terminals from importers only to international traders, but also closely bridges domestic and international natural gas markets, faciliating China's positioning as a resource distribution hub in Northeast Asia.
Additionally, LNG bonded warehouses can support the bunkering of international voyage ships, especially larger ocean-going ships which are fuelled with LNG instead of traditional oils for its environmentally-friendliness and low costs. Up to date, the LNG bonded warehouses are able to refuel international voyage ships, contributing to the development of China's shipping industry.
China's LNG Bonded Warehouses (t/y)
LNG Terminals |
Tank Capacity |
Customs Approval Time |
PipeChina Hainan LNG Terminal |
2*80,000 |
March 21 2018 |
CNOOC Zhejiang Ningbo LNG Terminal |
2*160,000 |
June 2021 |
ENN Zhoushan LNG Terminal |
4*160,000 4*220,000 (in construction) |
End 2021 |
Shanghai Yangshan Port |
/ |
February 28 2022 |
CNOOC Guangdong Dapeng LNG Terminal |
1*100,000 |
July 14 2023 |
PipeChina Dalian LNG Terminal |
1*160,000 |
August 8 2023 |
Source: OilChem
Written by Sunny Fang, fss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com