Yantai Port has signed agreements with two subsidiaries of PetroChina to expand a crude oil terminal and build a new LNG receiving terminal.
Kunlun Energy and Yantai Port will build an LNG receiving terminal comprising four LNG storage tanks, each with a capacity of 200,000 m3 at the port in eastern Shandong province PetroChina says. It will have a dock capable of receiving 266,000 m3 LNG vessels.
Additionally, PetroChina Fuel Oil and Yantai Port will jointly invest RMB 5 billion to expand a crude oil terminal at the port and to build the second phase of the Yantai-Zibo crude oil pipeline in Shandong province.
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