TIANJIN, Oct. 28 -- China's first floating liquified natural gas (LNG) terminal completed its first phase of construction in the northern port city of Tianjin on Tuesday.

Covering an area of 75 hectares and designed to supply 3 billion cubic meters of gas each year, it can supply imported liquified natural gas to energy-thirsty cities such as Beijing and Tianjin, said the China National Offshore Oil Corporation, which owns the terminal.

Two low-temperature storage tanks have a capacity of 30,000 cubic meters of gas each and were built specifically for the project. Construction began in 2012 with a total investment of 3.3 billion yuan (537 million U.S. dollars).

The terminal is one of the key projects for air pollution prevention in the Chinese capital. It will also supply natural gas to Hebei and Shandong provinces in the long run.

Floating LNG facilities can be moored offshore and allow energy companies to store, regasify and supply LNG close to markets.