Sinopec Group, parent of Asian top refiner Sinopec Corp. (SNP.NYSE; 00386.HK; 600028.SH), would commission a LNG receiving terminal as scheduled in Beihai city of south China's Guangxi Zhuang Autonomous Region in the end of December 2015, according to the company.
Sinopec also builds 1,318 km of natural gas pipelines covering ten cities in Guangxi as well as Zhanjiang and Maoming city in Guangdong province. With total investment of 17.76 billion yuan, the LNG receiving terminal project has 3 million tonnes of handling capacity in the first phase.
The project is jointly invested by Sinopec Group, Guangxi Investment Group and Guangxi Beibu Gulf International Port Group.
Construction of the LNG project was started in July 2013 and yearly handling capacity would increase to 6 million tonnes by 2017.
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