Chinese Suntien Green Energy Co. Ltd, manufacturer of wind energy and pipeline gas distributor, plans by the end of 2022 to build a terminal for liquefied natural gas (LNG) in North China by the end of 2022. As reported in the press service of the company, its investment plans received the approval of the authorities of the largest steel province China Hebei.
Thursday In a disclosure to the stock exchange in Hong Kong Suntien Green Energy< / span> said that the Central government has approved the construction of the gas terminal in Tangshan, with the ultimate throughput of 12 million tonnes of LNG per year. The amount of investment specified only in the first phase of the project (5 million tons) of $ 8.07 billion yuan (about 1.15 billion dollars).
According to the company, the project will include eight tanks, each measuring 200 000 cubic meters and a dock capable of docking tankers for LNG capacity from 80 000 to 266 000 cubic meters.
the Company started its activities in 2010 in the field of wind energy, but decided that natural gas has great prospects and hopes in five years to more than half of all profits from trading the LNG.
"This step will allow to compensate at least a promising business in the field of wind energy which is facing obstacles due to overloading and reduction of government subsidies", said in a press-service Suntien Green Energy.
the company estimates, demand for gas in Hebei in 2020 will be 20 billion cubic meters, which is 40% more than in 2018, thanks to government policy aimed at reducing coal use and switching to natural gas to combat air pollution.
