OREANDA-NEWS. April 18, 2013. The local Wenzhou government has announced on its website today that the feasibility report of a Wenzhou LNG project has recently been approved by National Energy Administration (NEA) and the national Development and Reform Commission.

The construction of the project is expected to be officially started early next year. The project is located on Xiaomen Island near Wenzhou, and includes LNG terminals, reception stations and transport pipelines. Phase one of the project will see four LNG storage facilities with a total capacity of 3m tons.

Total investment on the project will be RMB11.6bn.

“The development of the project will help Zhejiang province to optimize its energy structure and promote the development of the marine economy in the province,” said an official from Wenzhou Port.

Currently the early stage road construction for the project has already been started.