Xinao Investment's first private-owned LNG filling station will be built in Zhoushan

In the northeastern corner of Dinghai, the island of Zhoushan Islands, the New Austrian Group is planning to invest 4.75 billion yuan to build the first domestic international ocean-going ship LNG filling station (referred to as LNG filling station).

“It is facing the northern channel of Zhoushan and can be directly accessed to the international waterway in the east, so as to avoid the crowded South Waterway.” One day in early August, Yang Xiaomao, deputy researcher of Zhoushan Development and Reform Commission pointed to the charter and told reporters.

Previously, on March 7, 2013, the National Energy Administration issued a letter to the Xinao Group under Wang Yusuo, Vice Chairman of the Hebei Provincial Federation of Industry and Commerce, in the “Letter to Agree on the Preliminary Work of the Zhejiang Zhoushan International Shipping Liquefied Natural Gas (LNG) Filling Station Project” ( Guoneng Oil and Gas [2013] No. 99, abbreviated as “No. 99 Document”), allows Xin'ao Group to carry out preparatory work for this project.

The No. 99 document means that the company's LNG import, re-export, trade and distribution business has been approved by the National Development and Reform Commission, and the LNG refueling station will be an important fulcrum and platform for the future Ninese Group's import of LNG business. This is the first time that private enterprises have been allowed to enter the LNG import field, which is also an important fulcrum for the transformation of Zhoushan. Zhao Yifeng, vice president of the New Austrian Group, and other project specific people are running around. In the face of multitude, they did not dare to care.

According to data from the National Development and Reform Commission, domestic natural gas production was 58.8 billion cubic meters in the first half of this year, an increase of 9.0%; natural gas imports (including LNG) were about 24.7 billion cubic meters, an increase of 24.6%; and apparent natural gas consumption was 81.1 billion cubic meters, an increase 13.1%.

It is an indisputable fact that the dependence on natural gas continues to rise. It is difficult to meet the needs of the domestic market because the pattern of monopolizing the import link by the three major oil central enterprises alone. "Allowing some powerful and conditional social capital to enter should be the trend of the times. The breakthrough in the new Olympics in Zhoushan is just the beginning of this trend," said officials of the National Energy Administration.

Unlike oil import qualifications, LNG import qualifications not only need to go beyond China’s domestic approvals, but also require permission from the resource exporting country.

“According to the provisions of the Central Government, before the '99 Document', Xinao must sign a LNG long-term procurement framework contract with the foreign party and submit the contract to the National Energy Administration for record,” said Yang Xiaomao, “I’ve seen the new Austria and a Canadian company's LNG long-term procurement framework contracts, their import prices in the domestic market is very competitive."

According to Zhao Yifeng, the Canadian company currently has an annual export quota of 2 million tons of LNG from the Canadian government. Prior to this, the New Austrian Group has obtained a large share of the company's shares, and “has 100% of the company’s 2 million tons LNG quota. The right to sell, which is a prerequisite for the new shares of the New Austrian Group."

In contrast, the status of state-owned enterprises of oil central SOEs has often led them to face “political doubts” in investing in oil and gas block rights and purchasing oil and gas resources. After the shale gas revolution, Zhang Guobao, former director of the National Energy Administration, even judged that it was impossible for Chinese companies to obtain LNG from the United States, and persuaded Chinese companies not to waste time in the US market.

However, “Two years ago, Xinao had signed a framework agreement with Cheniere Energy of the United States to supply 1.5 million tons of LNG annually. It was only because of various reasons that this framework agreement was cancelled.” Some insiders disclosed to reporters.

Cheniere Energy is the operator of SabinePass LNG terminal in Louisiana, the first LNG export project in the United States. Currently it has signed long-term purchase agreements with a number of LNG buyers including Total and expects to officially supply gas after 2016.

“When the SabinePass LNG terminal was not yet started, in order to raise funds for the project, Cheniere also negotiated with both Total and New Austrian, and both signed a framework agreement. It was only the implementation of Total’s agreement, and New Austria’s was Cancelled," said the above person.

However, after this battle, the National Energy Administration and local governments in Zhejiang began to re-examine the advantages of the New Austrian Group and have more expectations for the Zhoushan LNG project.

According to the above-mentioned informed sources, according to the plan, the Zhoushan LNG project will unload the first ship's imported LNG at the end of 2016. The Zhoushan municipal government hopes that the Xinao Group should promote the Zhoushan Islands to become the LNG re-export trade center that radiates the entire Northeast Asian market, instead of just positioning Zhoushan as a warehouse terminal base.

“In the future, the receiving capacity of Zhoushan LNG project will reach 30 million tons/year, and Xinao should give full play to this resource advantage. At present, it has already discussed specific modes of cooperation with Zhoushan Commodities Trading Center,” he said.

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