Reuters is reporting that the Asian Infrastructure Investment Bank (AIIB) has invested US$500 million in support of China’s energy transition.
The AIIB’s financing will reportedly be used assist with the construction of the Tianjin LNG terminal’s receiving, storage and regasification facilities.
Once it is completed, the Tianjin LNG terminal will reduce coal consumption by 11.9 million tpy, and thus make a significant contribution to improving air quality in Beijing, Tianjin and Hebei province.
The project is being implemented by Beijing Gas Group Co.
AIIB announced earlier this year that it aims to providing financing for US$10 billion to US$12 billion worth of projects annually in the coming years.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18122019/aiib-invests-in-tianjin-lng-project/