Sinopec’s Qingdao LNG terminal in northern China marked a milestone on 31 January when it welcomed CESI Wenzhou, the 200th ship to be unloaded at the receiving terminal. Since it opened in November 2014, the Qingdao LNG terminal has received 14.2M tonnes of LNG.
Delivered in 2018 by China’s Hudong-Zhonghua Shipbuilding (Group) Co, 174,100 m3 CESI Wenzhou is one of a fleet of six LNGCs under charter by Sinopec owned by a joint venture of China Energy Shipping Investment Co Ltd (CESI) (80%) and Mitsui OSK Lines (20%). CESI itself is a 51/49 joint venture involving China COSCO Shipping and Sinopec, respectively, The dual-fuel, diesel-electric LNGC transports LNG from the Australia Pacific LNG Project for Sinopec under a long-term charter agreement.
Australia Pacific LNG is the largest producer of natural gas in eastern Australia and a major exporter of LNG to Asia. It is a joint venture of ConocoPhillips (37.5%), Origin Energy (37.5%) and Sinopec (25%).
Last August, Sinopec announced plans to build its fourth LNG terminal in a partnership with Zhejiang Energy Group Co. The 3M tonne per annum (mta) facility will be built in Wenzhou in the Zhejiang province in east China. The project includes four 200,000 m3 storage tanks, a dock to berth LNG carriers ranging from 30,000 to 266,000 m3 capacity, and a 26-km pipeline. The first phase of the project will open at the end of 2021.
The LNG import terminal is being constructed by Zhejiang Zheneng Wenzhou LNG Co, a new company owned by Zhejiang group (51%), Sinopec (41%) and minority investors (8%).
Sinopec also owns LNG terminals in Beihai and Tianjin, with plans to increase its LNG import terminal capacity from the current level of 9 mta to 26 mta by 2023.