Hubei Energy Group is to jointly build Zhoushan LNG receiving terminal and related storage facilities together with GUPC

Date：2017-09-19

       According to the agreement. Hubei Energy Group and GUPC will build LNG receiving terminal at Zhoushan port with annual receiving capacity of 12 million MT based on the principle of "overall planning, phased implementation" including a dock to receive 266,000 cubic meter LNG vessels and 6 x 160,000 cubic meter storage tanks and other related facilities. The first phase construction plan is to build a terminal to receive 3 million MT LNG annually, and the 2nd phase plan will increase to 6 million MT and the last phase will increase to 12 million MT. The total investment of the terminal project is about 5.6 billion Yuan RMB.In addition, Hubei Energy and GUPC will build gas power plant to be equipped with four sets of Siemens 8000H or four GE 9H gas and steam combined cycle power generation systems and the installed capacity of each system is 600MW, with a total installed capacity of 2400 MW. The total investment is about 8 billion RMB.

       Announcement said that the cooperation with Zhoushan city government was good for the company to add more good projects to its project portfolio, promote the development of natural gas business and gas power plants, enhance the effect of the size of company’s business and synergistic effect, and achieve the company's rational and healthy allocation of company’s assets and resources.