Hong Kong is targeting a final investment decision on its maiden floating storage and regasification (FSRU) project in 2018, as it aims to import LNG from 2020 to help curb coal use and reduce carbon emissions. If the scheme is successful, then Hong Kong could be importing at least 3-5 mtpa of LNG by 2030 as its demand for gas is expected to double.
Behind the push for LNG imports is the Chinese territory’s goal of improving air quality. The move is consistent with the regional government’s medium-term strategy of boosting natural gas use for power generation, diversifying away from pipeline gas, as well shuttering coal-fired power and cutting carbon emissions.
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