A new LNG project is approved for construction in China's Tianjin. The annual LNG storage capacity is expected to reach 6.18 mln tonnes upon completion. [Video/Xinhua]

A Tianjin Nangang liquefied natural gas (LNG) project with an annual storage capacity of 6.18 million tons has been approved for construction by the National Development and Reform Commission, in order to ensure Beijing-Tianjin-Hebei gas provision.

An investment of 20.13 billion yuan ($2.86 billion) will go towards the construction of ten LNG storage tanks with a capacity of 200,000 cubic meters of gas, as well as an LNG terminal and transmission pipelines.

Located in Binhai New Area, the project is being funded by Beijing Gas Group, with the aim of bolstering the natural gas emergency reserve of Beijing. It will provide protection for the Beijing-Tianjin-Hebei region’s emergency power supply.

The construction work is divided into three phases, and is scheduled to be completed in 2024.