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China’s Transfer From Coal To Gas Is Well Under Way

On Tuesday, Sinopec, one of China’s top energy companies, received the first LNG cargo at its new import terminal in Beihai. The company is now moving full speed ahead with plans for three more terminals across the country in a major shift from coal to gas.

The LNG will be re-gasified at the new terminal and then supplied to household consumers in the regions of Guangdong and Guangxi, in southern China. The facility has an annual processing capacity of three million tons of LNG. The first cargo, from Australia-Pacific LNG, was 160,000 cubic meters.

Related: $91 Billion In Capex Cuts, A Serious Hangover For Oil

Beihai is the second LNG import terminal of a total of five terminals Sinopec plans to build across the country. The first started operations last year, at the port on Qingdao, and the other three will be built at Tianjin, Jiangsu and Zhejiang.

China is currently in the process of shifting its economic model from a focus on manufacturing and heavy industries...


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