China to build new LNG terminals in southern Guangdong

BEIJING: China will build new liquefied natural gas (LNG) terminals and expand the capacity of existing terminals in its Greater Bay area, China's cabinet said on Monday, according to a report by official news agency Xinhua.

Beijing wants to turn Hong Kong, Macau and nine neighbouring cities in southern Guangdong province into an economic powerhouse dubbed the Greater Bay Area.

Under new guidelines for development of the area approved by the cabinet, the aim is to build a low-carbon and efficient energy system.

China will accelerate construction of large-scale oil reserve sites and consider launching a futures exchange for carbon emissions trading in Guangzhou.