FRAMEWORK AGREEMENT SIGNED FOR CHINA’S FIRST OFFSHORE LNG BUNKERING HUB

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The Shenzhen Offshore International Refuelling Centre will be jointly constructed by Yantian Port Group, China National Petroleum Corporation and Shenzhen Gas Group.

The project will focus on the ship-to-ship refuelling of large containerships at sea, and the LNG bunkers will be sourced from CNPC’s facilities in southern China, such as Hainan and Shenzhen.

Bunkering operations will be undertaken by a fleet of 8,000-10,000 cubic metre-capacity bunker tankers. Initial annual supply capacity is estimated at 230,000 tons, but in the longer term the project partners say that the world’s largest bunkering vessel will be built in order to scale up annual supply capacity to 1 million tons.

The LNG bunkering operation is expected to be worth around 1.15 billion yuan a year in the near term, growing to 5 billion yuan over time. The business will also be a catalyst to generate new opportunities in shipping and financial services and international trade which will further boost Shenzhen’s economic development.

Developed over the course of 35 years, Yantian Port has grown to be the main hub port in southern China and is the first port of call for ultra-large containerships. Around 40 large shipping lines operate some 100 weekly services at the port

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