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China wants better planning for building LNG storage facilities

Updated: May 28,2018 8:24 PM     Xinhua

BEIJING — China’s top economic planner has called for proper planning for the construction of liquefied natural gas (LNG) storage facilities to improve the country’s storage capacity.

Since the beginning of this year, local authorities and companies have stepped up building such facilities, but some of the facilities are small and scattered, the National Development and Reform Commission (NDRC) said in a circular unveiled on May 28.

The distribution pattern should be reasonable, with the focus on “centralized construction,” the circular said, adding that the country should avoid LNG facilities “blossoming everywhere.”

As the country’s natural gas demand will see a continuous increase, the commission encouraged the reservation of sufficient land for construction use in the future.

The NDRC also encouraged local authorities to build the facilities using different means of financing, including independent funding and joint stock.

Work should also be done to forestall local government debt risks with strict supervision of the implementation of both construction and investment plans, as well as tough project approval process, the circular added.