Shandong Dongming Petrochemical Group is on the verge of building an LNG receiving terminal after two Qatari companies agreed to pay $5 billion for a 49% stake in the company.
Ibrahim El-Tinay, Qatra ‘s CEO said that Qatra and Hamad bin Suhaim Enterprises will pay for the 3 mtpa LNG receiving terminal together with an LNG storage facility.
The funds will also be used for the construction of 1,000 gasoline filling stations in six provinces south of Beijing, Bloomberg reports.
According to El-Tinay the deal is expected to close before the end of the year.
LNG World News Staff