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Shanghai Commences LNG Project To Meet Its Energy Demands RNCOS
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On 22 January 2007, Shanghai commenced a major project to keep up energy supply in the country. The project will transmit LNG (Liquefied Natural Gas) from Malaysia to the economic hub of east China over the next 25 years.
This new terminal, which is under construction at Yangshan Deep Water Port – south of Shanghai – will likely start operation by the 1st half of the year 2009, when it’ll begin processing super cooled gas imported from Malaysia.
Han Zheng, Mayor of the city, inaugurated this project. It’s a major component of the endeavors of the city towards diversifying its energy mix.
Seven billion Yuan will be spent in the 1st phase of this project, and it will be capable of handling three million tons of LNG annually. The 2nd phase of the project is, reportedly, designed for increasing the capacity of importation by another three million tons per year.
"The project will help ease Shanghai's tight natural gas supply, improve energy security, reduce emissions and boost efficiency," as per Zhao Xiaoping - director with National Development & Reform Commission’s energy bureau - in news published by English.eastday.com on 23 January 2007.
Players in this sector are quite enthusiastic about the recent launch of LNG project. Since, it will help in meeting the ever-increasing demands of energy in the country.
According to a RNCOS report on “Future Outlook for Global LNG Market (2010)”, “Declining costs of liquefaction, energy security, energy market reforms, have been contributing to the growth of global LNG market. Inadequate transmission of gas, and distribution network are the key challenges for this market.”
About the Report
RNCOS’ market research reports on “Future Outlook for Global LNG Market (2010)” provides an exclusive overview of the global LNG industry. The report is a must read for businesses and individuals who are closely monitoring the development in this sector. It addresses some interesting issues for today’s global business environment. For example, the factors leading to the success of LNG industry, opportunity areas and challenges before the players in this sector, potential markets in global LNG Industry, infrastructure position of global LNG market at country level, major LNG trade markets, and so on.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM07593.htm
Current Industry News: http://www.rncos.com/blog
Released on: Mar 11, 2007
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