(Yicai Global) Nov. 10 -- China Gas Holdings Ltd. [HK:0384] and the US liquefied natural gas company, Delfin LNG LLC, signed a USD8 billion investment project for the development of the first floating liquefied natural gas (FLNG) in North America.
This project plans to transport natural gas from Louisiana, the US, to a deepwater port 51 miles away from Louisiana's coast through the existing submarine pipeline, receive the gas from the pipeline and liquefy it with FLNG, and then export it to other countries, Beijing Business Today reported.
The project is expected to be put into operation by 2022 with an annual export of 13 million metric tons. Under the investment agreement, Delfin LNG will export 3 million metric tons of LNG to China annually for 15 years.
As one of China's largest trans-regional energy suppliers, China Gas had owned gas projects in over 400 cities as of March this year, with the gas supply covering more than 150 million people.
The said project is one of the economic and trade cooperation agreements inked by Chinese and US enterprises in Beijing during US president Donald Trump's state visit to China.