{"id":21884,"date":"2020-04-15T08:00:35","date_gmt":"2020-04-15T07:00:35","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=21884"},"modified":"2020-04-15T08:00:35","modified_gmt":"2020-04-15T07:00:35","slug":"chinese-firm-shell-in-deal-to-market-lng","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/chinese-firm-shell-in-deal-to-market-lng\/","title":{"rendered":"Chinese firm, Shell in deal to market LNG"},"content":{"rendered":"\n<p><strong>By Energy World<\/strong><\/p>\n\n\n<p>GCL Oil&amp; Natural Gas Co and Royal Dutch Shell have signed an agreement to explore setting up a venture based in Jiangsu province in Eastern China to market and trade Liquefied Natural Gas (LNG)<\/p>\n\n\n<p>The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province, GCL said in a statement.<\/p>\n\n\n<p>GCL, a subsidiary of private energy and power firm GCL (Group) Holding, is one of over a dozen Chinese gas terminal developers outside state giants China National Offshore Oil Company, PetroChina and Sinopec Corp that have so far dominated the LNG sector. China is the world&#8217;s No.2 LNG importer.<\/p>\n\n\n<p>GCL is planning three receiving terminals along China&#8217;s east coast &#8211; Yantai in Shandong province, Rudong in Jiangsu and Maoming in Guangdong &#8211; with a total annual handling capacity of 14.5 million tonnes, Huang Shaohua, a strategic planning official with the firm, told Reuters.<\/p>\n\n\n<p>Among them, the 5 million tonne-per-year Yantai project was first to have won state regulatory approval, in January, and GCL aims to start constructing the facility this year, Huang added.<\/p>\n\n\n<p>The Yantai terminal, at an estimated cost of $1.1 billion, would start up in 2023, Reuters reported in March.<\/p>\n\n\n<p>GCL submitted an investment plan for the 6.5 million tonne-per-year Rudong terminal to the state authority last December, Huang added.<\/p>\n\n\n<p>The firm is in discussions with state oil and gas major PetroChina for possible joint investment in the third terminal, the 3 million tonne-per-year facility in Maoming, he said.&nbsp;<\/p>\n\n\n<p><strong>Source<\/strong><\/p>\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/energy.economictimes.indiatimes.com\/news\/oil-and-gas\/chinas-gcl-shell-sign-preliminary-deal-on-lng-trading-joint-venture\/75138142\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>By Energy World GCL Oil&amp; Natural Gas Co and Royal Dutch Shell have signed an agreement to explore setting up a venture based in Jiangsu province in Eastern China to market and trade Liquefied Natural Gas (LNG) The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[],"class_list":["post-21884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-and-industry","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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