CNOOC Gas & Power Group Spearheads LNG Vaporizer Development

On December 2, it was learned that the open rack vaporizer (ORV) research program, led by CNOOC Gas & Power Group, had successfully tested the ORV. It marks that for the first time a Chinese company has mastered the core technology of ORV, laying the foundation for ORV localization.

In recent years, the rapid development of LNG receiving terminals in China triggers a big demand for vaporizers which play the key role of vaporizing the liquefied natural gas. Most of the vaporizers had been imported. They are the second costly equipment in a terminal next to LNG tanks, and have the longest manufacturing cycle.

In March 2012, the R & D center of CNOOC Gas & Power Group kicked off the ORV research program in collaboration with domestic partners. Upon the ORV localization, the ORV cost will decrease by 40%, thus saving RMB 28 to 40 million for one terminal.

(4-traders.com, edited by Topco)