The National Development and Reform Commission (NDRC) of China has approved the construction of the 10 Mt/year (13.5 bcm/year) Yantai LNG import terminal project in the Shandong province in eastern China) The project will be developed in two 5 Mt/year phases and the first one, which will cost US$1.1bn, is expected to be commissioned by 2023. The project encompasses the construction of a receiving berth of 266,000 m3 capacity, five 200,000 m3 LNG storage tanks, one 50,000 m3 transhipment berth and regasification facilities.
Requiring a US$1.2bn investment, a 530-km gas pipeline will connect the terminal to the national gas transmission network; the gas pipeline project is expected to be approved in April 2020. The regasified gas will be supplied to 28 downstream companies that have signed a Memorandum of Understanding (MoU) with Yantai LNG. The Yantai LNG terminal is fully-owned by a consortium of Poly-GCL Pan-Asia International Energy (Shandong), a joint venture of Poly-GCL Petroleum Holding Group, Pan-Asia International Energy Distribution Center and Yantai Port Group.