China to Build a $1B Natural Gas Import and Storage Base

The Chinese government has recently announced plans to develop a $1 billion natural gas import and storage facility in the southern coastal province of Guangdong, and ExxonMobil has initiated talks on a possible joint investment in the project with several partners. 

In September 2018, ExxonMobil signed a preliminary agreement with Guangdong province for projects worth billions of dollars, including a petrochemical complex and an LNG terminal in Huizhou. 

Guangdong started construction on July 23, 2012 and aimed to begin operating the import facility by the end of 2023, according to Xinhua news agency. 

According to the report, the state planner for the country’s economy, the National Development and Reform Commission, gave the go-ahead for the project in early July. 

The Huizhou berth is designed to handle liquefied natural gas tankers that can hold up to 266,000 cubic meters in volume and can store up to three 200,000-cubic-meter storage tanks.