Energy giant China National Offshore Oil Corporation (CNOOC) has completed the first phase of construction of China's first floating liquefied natural gas (LNG) terminal located on the northern port city of Tianjin, Xinhua News Agency reported.
The terminal, covering an expanse of 75 hectares, is designed to supply 3 billion cubic meters of gas annually. It can provide imported liquefied natural gas to cities such as Beijing and Tianjin, according to CNOOC.
The terminal is part of the country's major projects aimed at dealing with the pollution problem in Beijing.
Along with the aforementioned cities, Hebei and Shandong provinces will also benefit from the terminal eventually.
The floating terminal has two low-temperature storage tanks built specifically for the project. Each tank can hold 30,000 cubic meters of gas.
The total investment for the project amounts to 3.3 billion yuan ($537 million). Construction on the terminal began in 2012.
According to the report, floating LNG facilities can be fixed in place offshore, allowing energy companies to store, reload gas and supply LNG close to markets.
China has 13 non-floating LNG terminals installed in 13 different cities.