Guangdong Seeks Investment for LNG ProjectSouth China's Guangdong Province is seeking investment for constructing a gas receival terminal and auxiliary transmission pipelines which are part of a liquefied natural gas (LNG) project that will be built in the province.With approval from the State Council, the LNG project will be built in two phases and will requires construction of one gas receival terminal, gas transmission pipelines, two gas-firing power plants, other minor works for supply of gas as fuel to urban families in Guangdong and to Hong Kong, said sources from Guangdong Provincial Development Planning Committee. The terminal will be situated near Dapeng Peninsula in Dapeng Gulf of Shenzhen and will be able to receive three million tons of gas annually upon completion of the first phase construction. The pipelines, with a total length of 509 km, will traverse nine cities in the Pearl River Delta where 2.45 million urban residents will benefit from the LNG project. The pipelines will be erected in two stages. The entire LNG is estimated to cost US$36.8 billion yuan (US$4.45 billion). The gas receival terminal and the auxiliary transmission pipelines alone will cost 5 billion yuan (US$604.5 million), 70 percent of which will be provided by the Chinese partners, according to the sources. By now, feasibility study on the first phase of the LNG project has just begun and is expected to be finished before October 2001. The LNG project will start construction in the first half of 2002 and will be completed and put in service in late 2005, the sources added. |
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