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The construction site of Jiangsu's LNG storage and peak shaving project photographed on Yangguang Island. [Photo/ntfabu.com]

The pile foundations of three 200,000-square-meter LNG storage tanks in the first phase of an LNG storage and peak shaving project in Jiangsu province were completed on Oct 14, according to local media reports.

Located on Yangguang Island, an artificial island off Yangkou Port in Rudong county, Jiangsu province, the project began construction on Nov 11 last year.

The first phase has received a total investment of about 5.2 billion yuan ($807.94 million), and includes three 200,000-square-meter LNG storage tanks and corresponding auxiliary facilities. Featuring a designed annual loading and unloading capacity of 2.95 million tons of LNG, the project will have a maximum daily natural gas transport capacity of 30 million cubic meters.

Construction work at the site is expected to finish in September 2023.  

Once the project is put into operation, it will provide LNG storage, transportation and gas services, and become an important source of future incremental natural gas demand in Jiangsu, according to officials.