Qingdao WCNA establishes national largest single-tank LNG bonded warehouse

The largest single-tank liquefied natural gas (LNG) bonded warehouse in China received approval to be established in the Qingdao Dongjiakou Economic Zone of Qingdao West Coast New Area (Qingdao WCNA) on May 22.

As a result, the Qingdao LNG receiving station of Sinopec Tianranqi Company has become the first LNG bonded storage and transportation terminal in China with a "double berth" dock.

The Qingdao LNG bonded warehouse has a capacity of 270,000 cubic meters, making it the largest single-tank LNG storage tank among domestic bonded LNG storage facilities. It can simultaneously carry out a variety of tasks, such as LNG bonded re-export, fuel filling, and LNG ship gas trial cold cabin technology services.

China's largest single-tank LNG bonded warehouse is located in Qingdao WCNA. [Photo by Liu Daming]

Imported LNG resources can be temporarily exempt from tariffs and value-added taxes through the bonded warehouse, and the LNG resources in the bonded warehouse can be re-exported to other countries or be cleared for domestic circulation and use after paying taxes.

The establishment of the LNG bonded warehouse helps enterprises flexibly allocate LNG resources according to domestic and international market demands. 

As the first LNG bonded warehouse in Shandong province, the Qingdao LNG receiving station is expected to import and export nearly 800,000 metric tons of bonded LNG resources annually.