According to Reuters, GCL Oil & Natural Gas Co. Ltd and Shell have signed a framework agreement to explore the development of a joint venture (JV) based in eastern China to market and trade LNG.
Reportedly, the proposed JV would secure LNG supplies from Shell, and then market this LNG to a receiving terminal planned by GCL in Jiangsu province.
According to Reuters, GCL is currently planning three receiving terminals along the east coast of China: Yantai in Shandong province; Rudong in Jiangsu; and Maoming in Guangdong. In total, these three terminals will have an annual handling capacity of 14.5 million t.