The Chinese oil and gas group Sinopec plans to develop a 15 Mt/year (20 bcm/year) LNG import terminal in Zhoushan, in the Zhejiang province (eastern China). As agreed with the government of Zhoushan, the CNY20bn (US$2.8bn) project will be jointly built and operated with a local government company. It will include two wharfs and four 220,000 m3 storage tankers. Construction is scheduled to start in the first half of 2021 and the project should be commissioned in 2024.
Sinopec's LNG regasification terminal will be the third one in Zhousha. The first one was commissioned by ENN Energy in 2018 and its 3 Mt/year (4.1 bcm/year) capacity should be expanded to 5 Mt/year (6.75 bcm/year) in the first half of 2021. In addition, Shenzhen Energy Gas Investing Holding and Zhejiang Energy Group are developing a 12 Mt/year (16 bcm/year) LNG import terminal, whose first 6 Mt/year (8 bcm/year) is expected in 2023.