Regional LNG: A-Power, MNG to build Macau LNG terminal

NASDAQ-listed power generation system firm A-Power Energy Generation Systems, , that its unit Shenyang Power Group Co., Ltd. has signed an MoU with Macau Natural Gas Co., Ltd. (MNG) to construct an offshore LNG complex to import, store and re-gasify LNG and to distribute natural gas to Macau and elsewhere.

The capacity of the LNG facilities is expected to be 3 million tons per year starting 2013 and 5 million tons per year in 2015.

The project will be an expansion of MNG's existing natural gas facilities and the total cost of the project is currently estimated to be US$1.5 billion, according to the MOU.

Pursuant to the MOU, after the construction of the LNG terminals, which is expected to take approximately 24 months, a 2,400MW natural gas power plant will be built at the same location. The details of the power plant are pending until further negotiation among the parties. (alex)