Ttop economic and industry planning agency had approved domestic oil company PetroChina's plan
China's top economic and industry planning agency had approved domestic oil company PetroChina?s plan to build liquefied natural gas pipelines and a terminal in East China?s Jiangsu Province, the China Daily reported Tuesday.
The National Development and Reform Commission had agreed to let the company proceed with the US$2.4 billion project, which will allow it to join rivals Sinopec Corp. and China National Offshore Oil Corp. in building several LNG terminals in coastal provinces.
PetroChina planned to build the terminal in Rudong, Jiangsu Province, to receive three million to 3.5 million metric tons of imported LNG a year, according to the report.
The gas would be mainly supplied to a 2,400-megawatt gas-fired power plant through a 70-kilometer pipeline, Su Shulin, PetroChina?s senior vice president, said.