PetroChina to build more gas import terminals as Beijing aims to trim trade surplus with US

State-backed energy giant PetroChina plans to build more terminals to receive imported natural gas, including from the US, in a move which would help relieve Sino-US trade tension.

The plan to build facilities to process chilled and liquefied gas arriving by ship in Shandong, Liaoning, Guangdong and Fujian provinces was announced by officials at gas-distribution subsidiary Kunlun Energy, which has been tasked with testing their feasibility.

“Kunlun has import terminals in Jiangsu, Tangshan, Dalian, and PetroChina is building one in Shenzhen,” Kunlun chief executive Zhao Yongqi told reporters after the firm’s annual general shareholders’ meeting on Thursday.

“To ensure supply, Kunlun is conducting feasibility studies to build more terminals in Shandong, Liaoning, Guangdong and Fujian provinces.

“Efforts to expand gas imports from the US will present opportunities for Kunlun to source gas for these projects.”

The new terminals would have facilities to “re-gasify” the imported fuel – a process by which gas that had previously been turned into liquid form by cooling it to extremely low temperature back is returned to its original state.