Copyright 2021 - Ningbo Life / Ningbo Expat

First LNG bonded warehouse in Zhejiang Province put into operation in Ningbo

“The formal operation of LNG bonded warehouse has laid a solid foundation for the further development of LNG transit trade and offshore filling of bonded natural gas. Meanwhile, it will provide support for the city to build an international important energy supply chain center and explore offshore trade of energy commodities.” said a person in charge from Ningbo Free Trade Office on the morning of July 30, when speaking of the free trade innovations in Ningbo.

On the morning of July 30, in Ningbo section of Zhejiang Free Trade Zone, CNOOC Zhejiang LNG (liquefied natural gas) terminal bonded warehouse successfully received and unloaded LNG from the “Traiano Knutsen” Ship, becoming the first LNG bonded warehouse in Zhejiang Province to receive and unload bonded LNG cargo, and marking the official operation of the first LNG bonded warehouse in the province.

The LNG bonded warehouse is a full capacity LNG concrete tank with a net capacity of 160,000 cubic meters. This tank can supply gas for Zhejiang Province for two and a half days.

In addition, the LNG bonded warehouse has a certain amount of available reserves, which can effectively resist the risk of large fluctuations in national LNG supply and market price, and ensure the stable supply of natural gas in China, especially in Zhejiang Province. It is estimated that every 500,000 tons of LNG bonded business carried out in the bonded warehouse can increase the import and export trade value by 1.65 billion yuan and the import value-added tax by 149 million yuan.

It is reported that Zhejiang LNG bonded warehouse received the permit for establishment from Ningbo Customs on December 30, 2020. After the on-site inspection of Beilun Customs on May 25, 2021, and the examination and acceptance of Ningbo Customs on June 10, the bonded warehouse officially obtained the approval of Ningbo Customs

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