A vessel berths at the Guanghui LNG terminal in Qidong. [Photo/WeChat account: qdrmt0513]

Guanghui Energy Comprehensive Logistics Development Co Ltd – based in the county-level city of Qidong, in Nantong, in East China's Jiangsu province – generated taxable sales of 1.1 billion yuan ($172.25 million) in the first three quarters of 2021, breaking the 1 billion yuan barrier, local media reported.

The company is a unit of Guanghui Energy Co Ltd – a private natural gas pipeline operator based in the Xinjiang Uygur autonomous region – and is engaged in receiving and unloading liquefied natural gas ships, as well as storage and transporting LNG.

Founded in 2010, the company has to date invested 4 billion yuan in fixed assets such as its LNG terminal and has built four holding tanks with a storage capacity of 420,000 cubic meters. To date, it has formed a complete industrial chain comprising international purchases, receiving and unloading domestic shipments, storage, distribution and sales.

The company has two more storage tanks with a capacity of 200,000 cu m under construction, as well as support facilities being built and a wharf which can berth a 100,000-ton ship. The newly-built No 5 tank is scheduled to start operating next August, while the No 6 tank began construction in August this year and will be completed and start operating in 2023.

By the end of the 14th Five-Year Plan period (2021-25), plans are for its Guanghui LNG terminal to have a storage capacity of about 1 million cu m.