LNG Storage Tank Expansion Project by Shanghai LNG Company Ltd. was Granted with China CDM Fund Concessional Loan

On May 7th 2018, China CDM Fund Management Center issued Reply Letter to approve CDM concessional loan to the LNG Storage Tank Expansion Project by Shanghai LNG Company Ltd.. The financing for this project was guaranteed by Shenergy Finance Co., Ltd. A loan totaled RMB 65 million was approved and can leverage social capital of RMB 3.01551 billion. It’s estimated that it can help to reduce carbon emission by 10,571 tCO₂e annually.

The Project is mainly about the construction of 2 new 200,000-cubic-meter LNG storage tanks, in size; and increase of compressors, high-pressure delivery pumps, IFV, SCV and other major process equipment and relevant auxiliary projects. When completed, it will serve as one of the major natural gas sources of Shanghai City, delivering gas to the city, and undertake the responsibility of peak-load shaving and contingency reserve of natural gas for Shanghai City. It realizes greenhouse gas emission reduction as power will be generated by LNG cold energy and waste energy to cut down power-purchase from East China Power Grid. 

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