Henan Province Commissions CNOOC to Build 2 LNG Tanks for 1053 Mandate
According to CNOOC, Henan provincial government recently inked a commission agreement with CNOOC Gas & Power to add two 270,000 cbm LNG storage tanks at CNOOC’s newly building Binhai LNG receiving terminal in East China’s Jiangsu Province in the wake of Henan’s quest to meet the 1053 natural gas storage mandate, in particular, to secure 3-day emergency natural gas supply for Henan province.
The two new tanks will join the construction plan and will be under CNOOC’s running since accomplished, showing a new method for governments to deal with the 3-day emergency storage mandate remotely. This new method not only avoids scattered and small LNG storage tank construction in the inland province Henan, but also creates a new LNG sourcing channel and LNG supply of the province. Also, cooperating with existing and newly building terminals will save a great cost in approval and construction progress of small terminals designed for the 1053 mandate, while also enhance the competitiveness of terminal partners. Thus, it is believed many interested parties will join this game by the same pattern Henan took or just simply a request for the stakes of existing terminals and projects.
