Chaozhou Huaying LNG terminal, owned by Huaying Natural Gas, is expected to start operation in the first half of 2024, according to open sources. This will intensify the already fierce sales competition, causing the LNG price to sustain at a relatively low level.
The terminal, located in Chaozhou city of South China's Guangdong province, was constructed in two phases, with total natural gas storage and transmission capacity of 12 million tonnes per year once completed.
The first phase commenced construction in December 2020, including three 200,000 cu m LNG storage tanks, one 217,000 cu m LNG vessel unloading berth, one workboat dock and supporting engineering facilities, with maximum LNG processing capacity of 6 million tonnes per year. It is projected to start operation in April or May 2024.
The second phase was taken as part of the Energy Development Plan of Guangdong Province and the national 14th Five-Year-Plan, adding ten 270,000 cu m LNG storage tanks and supporting facilities.
Currently, Guangdong's LNG supply mostly comes from local LNG terminals, which provided 2.77 million tonnes of LNG in 2023, accounting for more than 95% of local LNG consumption, data from OilChem showed.
2022-2023 Guangdong LNG Sales by Truck at Terminals
Source: OilChem
Written by Sunny Fang, fss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com