CNOOC's Guangdong LNG terminal achieves milestone receiving volume

China National Offshore Oil Corp said on Friday that its Guangdong Dapeng LNG terminal's cumulative receiving volume had exceeded 100 million metric tons, making it the largest LNG terminal in terms of receiving volume in the country.

The LNG terminal in Guangdong province, the first such terminal in China, has been operational for 17 years, and serves six cities, including Guangzhou, Shenzhen, Dongguan, Foshan, Huizhou and the Hong Kong Special Administrative Region.

It has ensured the stable supply of domestic natural gas, and optimized and transformed the national energy structure, it said, thereby contributing to a faster progress toward the country's carbon neutrality goals.

The terminal's gas supply capacity meets the demand of about 70 million people, accounting for about onethird of the natural gas consumption in Guangdong province, it said.

The facility is capable of receiving vessels round the clock, ensuring berthing and immediate unloading of ships to further enhance gas supply capacity, said Hao Yunfeng, president of CNOOC Guangdong Dapeng LNG Co Ltd.

This has significantly improved the efficiency of LNG transportation, resulting in a 15 percent increase in port utilization. "We anticipate that this year's unloading volume will reach 120 vessels," Hao said.

LNG is gaining traction as a clean and efficient energy resource amid a global transition toward green energy, said Li Ziyue, an analyst at BloombergNEF.

"Dapeng terminal, one of the busiest terminals in China with high utilization rates, represents a large share of gas supply to Guangdong and boosts emissions reduction in the province," Li said.

"China has been ramping up construction of terminals and storage facilities in recent years, with a complete industry chain encompassing production, storage, transportation, and comprehensive application of LNG, as the country prioritizes a transition away from coal," Li added.

Data released by BloombergNEF showed that the total tank capacity of the LNG receiving stations in China exceeded 13 million cubic meters by the end of last year, a 7 percent increase compared to the previous year.

Tang Yongxiang, general manager of the planning and development department of CNOOC Gas & Power Group, said the company has set up 10 LNG terminals across the nation so far, procuring LNG from over 20 countries and regions worldwide.

The company is also currently expanding three 10-million-ton-level storage bases to ensure the longterm, diversified and stable supply of LNG resources domestically, he said.

LNG terminals — a crucial component of the LNG industry chain — have played a vital role in China's energy landscape.

Since the completion of the Guangdong Dapeng LNG terminal in 2006, 27 other LNG terminals have become operational across China, with an annual receiving capacity exceeding 120 million tons, making the nation one of the global leaders in LNG infrastructure, CNOOC said.

More than 30 LNG terminals are also under construction in the country. Once completed, their combined receiving capacity will exceed 210 million tons per year, further solidifying China's position as a key player in the LNG sector globally, it said.