JOVO Group to receive second LNG import cargo in May

China’s privately owned Jovo Group plans to receive a second imported LNG cargo at its Dongguan terminal in southern China’s Guangdong province in early May, company vice president Jiang Guangsheng told Platts.

The company received its first 36,000 mt of imported LNG from Malaysia’s Petronas on September 17 last year, making it the first private company to import LNG cargo to China, according to its website.

“We also sourced the LNG cargo from Malaysia this time,” Jiang said. Another company source said Friday: “We have fixed a 76,000 cubic meter LNG vessel for delivery and it’s expected to arrive at our Dongguan terminal in early May.”
The May cargo is around 35,000 mt, and the price is not known. The company rented an 89,000 cbm LNG vessel to deliver its first imported cargo, but later terminated the lease due to higher rental costs and ship design issues, the source said.

Jovo’s terminal in Dongguan has two large LNG storage tanks, each with a capacity of 80,000 cbm, and several smaller tanks, giving it a total capacity of 170,000 CBM.

It also has an LPG storage capacity of around 132,000 cbm, oil product, and petrochemical storage capacity of 125,000 cbm, and a dockable to berth vessels of around 50,000 DWT or 80,000 cbm, according to Jovo’s website.

The terminal, which started up in 2009, is operated by Dongguan Jovo Energy, a joint venture between Jovo Group and Guangdong Guangye Investment Group, Jovo said on its website.

Jovo separately is heard to have a one-year LPG term contract with an Iranian supplier to receive 40,000 mt/month of LPG from November 2013, with the cargoes priced on a floating basis, Platts reported earlier.

This could not be confirmed with the company.

Source SpGlobal