China’s National Energy Administration has granted Sinopec approval to develop a liquefied natural gas import terminal at Wenzhou city in Zhejiang province.
The project in the east of the country is expected to cost about 9.036 billion yuan ($1.33 billion) to build.
It will follow a similar business model to other Sinopec projects, involving the creation of a joint venture with a local Zhejiang gas distributor and a local government-owned investment company to facilitate construction.
