Shandong shows its hand

Shandong Oil & Gas, CCC Urban & Rural, and Yantai Port have signed an agreement to cooperate on a new import terminal in Shandong Province. Shandong Oil & Gas (30%), CCC Urban & Rural (40%), and Yantai Port (30%) will form a project company to jointly establish the facility at Yantai, in the northeast of the province, on the Yellow Sea. The 10m t/y Yantai LNG import terminal is expected to be built in two phases. The initial $1.1 billion, 5m t/y phase is expected to start construction in 2022 and to be commissioned in 2024, with six 200,000cm LNG storage tanks added by the end of the second phase. Shandong Oil & Gas will take the lead in connecting the import terminal to

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