Regional LNG: China set to build 30 LNG vessels in next 10 years

China will build at least 30 liquefied natural gas (LNG) vessels in the coming ten years for the shipment of imported LNG, the Asia Pulse reported.

China has formed an annual capacity of producing more than 10 LNG vessels costing US$160 million each by 2015, though its first LNG vessels will not be delivered for use until the end of 2007, said Yan Weiping, General Manager of the China LNG Shipping Co., Ltd.

Meanwhile, the Chinese government has decided to let three Chinese oil giants, namely China National Offshore Oil Co., Ltd (CNOOC), PetroChina and Sinopec, to build 10-11 LNG receiving terminals along the coastal line. The LNG receiving terminals to be built will have a total handling capacity of about 30 million tons. (*)