LNG project planned for China port
An LNG receiving station with a 5m tonnes per year capacity will be built by Yanqiao Group and Beijing Energy Group at the Port of Rizhao in China.
The two parties will invest 6.7bn yuan in the construction of the LNG project. A strategic partnership will be established based on the principle of “green development, complementary advantages, industrial synergy, and win-win cooperation,” said Yanqiao Group.
In addition, the two sides will also carry out in-depth cooperation in the development of overseas energy projects, the construction of industrial parks at home and abroad, and international trade in oil and gas, and jointly promote the development and construction of projects that are part of the ‘Belt and Road Initiative’ (BRI) to add new impetus to the sustainable development of the regional economy and help the national economy.
LNG gas ownership
Yanqiao Group is a private infrastructure and energy industry group, which built China's largest private port, Yanqiao Port. It owns its own overseas LNG gas source and has reserves in the western Australian energy and natural gas field.
Beijing Energy Group Co., Ltd. is a wholly state-owned company funded by the Beijing Municipal Government.
In recent years, Yanqiao Group has actively implemented the BRI initiative, and has acquired projects such as Western Australia's energy and natural gas fields, New Zealand's RKM oil and gas fields, Australia's Darwin Port and Panama's Mashima Port.
Jingneng Group and Yanqiao Group are also in the process of discussing cooperation in various business areas including the implementation of BRI construction projects and the transformation of new and old kinetic energy projects.
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