Under the agreement, the PNG LNG project will supply LNG to Sinopec’s LNG terminal in Shandong Province, for a period of 20 years.
Wang Zhigang, senior vice president of Sinopec, said: “Sinopec is very pleased to reach the final sales and purchase agreement with the PNG LNG project. The LNG we’ve committed will supply an LNG terminal that Sinopec is going to build in Qingdao, Shandong Province. Phase I capacity of the terminal is three million tons per annum.
“With the developments of the market, we will expand the facilities to receive 5-6 million tons per year in a Phase II stage. This LNG terminal will provide long-term and reliable clean natural gas resources to the Shandong market and will play a positive role in meeting the local demand, optimizing the energy mix and improving the local environment.”
