The company said that it is installing four storage tanks with 200 cubic meters of LNG storage capacity. The processor can gasify up to 240,000 cubic meters per day, which is more than enough to process all of the LNG stored in Haitang Bay.
The construction is scheduled to be completed in September 2010 and commence supplying gas to the hotels in Haitang Bay and other customers in Sanya City. The construction will be funded by the long-term loan from the Bank of China.
The company has also signed a second gas sales contract with Conrad Hotels & Resorts in Haitang Bay. The estimated annual gas usage for this hotel is 170,000 to 240,000 cubic meters.
Changfeng is engaged in the design and construction of natural gas distribution networks and distribution of natural gas to commercial and residential customers in China.
