Chaozhou Huaying LNG Receiving Terminal Shareholder (Huaying Natural Gas Trading Co., Ltd) signed a memorandum of understanding with Thailand’s PTT Public Company Limited (PTT), a natural gas company, at the 2023 International Natural Gas Conference, held between July 10 to July 13.
During the signing ceremony, the two companies reached a preliminary consensus on the use of the Chaozhou Huaying natural gas terminal stations and economic cooperation. PTT possesses a flexible and reliable global natural gas resource pool, which complements the advantages of Huaying LNG.
This cooperation represents a significant milestone in business relations between the two parties. Huaying Group possesses natural gas receiving facilities and has a presence in the terminal market. With a focus on the natural gas industry chain, both sides will continue to deepen their ties in the entire natural liquefied gas industry, explore collaboration opportunities, and foster innovation to jointly contribute to the development of clean energy worldwide.
The conference featured exhibitors from 18 countries, including the United States, Germany, the United Kingdom, France, and Canada. Natural gas is a major energy source worldwide. As the largest importer of natural gas, China is a major participant in this conference.
Responding to China’s call for international communities to promote low-carbon and sustainable development, as well as reducing carbon emissions by 30 percent by 2030, Huaying LNG Chairman Shu Changxiong stated that the Chaozhou Huaying LNG Terminal project has made new progress in international cooperation thanks to the support from policies and the industrial chain. It has not only stabilized the price of natural gas in Guangdong Province, but also achieved a win-win situation with countries in Southeast Asia. He further noted that in line with China carbon reduction and carbon neutrality goals by 2030, once the project is completed, it will annually import approximately 10 billion cubic meters and 6 million tons of natural gas for Guangdong province, China. The Chaozhou Huaying LNG terminal is scheduled to officially begin operation in early December 2023.