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Tianjin Municipality News

31 Dec 2015

China's Maritime Economy Expands by 8 Pct Annually

The total production value of China's maritime industry grew by an average of 8.4 percent annually from 2011 to 2014, representing over 9.3 percent of the GDP each year, reports China's official media. During the same time frame, the industrialized utilization of ocean water had accelerated, according to the 2015 report on China's marine economy development issued by the State Oceanic Administration (SOA). The daily desalination capacity increased by 331,000 tonnes and annual growth rate of maritime biological medicine added value reached 19.6 percent, the report said. Since 2010, the central government approved Tianjin Municipality and provinces of Shandong, Zhejiang, Guangdong and Fujian to pilot development of the maritime economy.

19 Aug 2013

China Government Approves First FLNG Project

The CNOOC Gas and Power Group, a wholly-owned subsidiary of CNOOC, China's largest offshore oil and gas producer, informs that its first floating liquified natural gas (LNG) project has gone through government approval, reports Xinhua. The floating LNG terminal project, located in north China's Tianjin Municipality, will be the first of its kind to be built in the country. Citing a CNOOC statement Xinhua reports that the company will spend 3.3 billion yuan (534.7 million U.S. dollars) to build the floating LNG terminal, which will ensure fast supplies and shorten the construction period for its Tianjin LNG project by up to four years.