When will this company be sold?
In 2017, a group of Chinese companies made headlines when they announced plans to build a $100 billion liquefied natural gas (LNG) plant in China.
The plant would be the largest in the world, with capacity to liquefy 1.2 billion cubic feet (bcf) of gas per day.
The company, the Shanghai Jiaotong Industrial Group, said the plant would create 50,000 jobs.
China’s LNG export capacity currently stands at roughly 2.8 bcf/day.
The project was announced by a team led by the former chief executive of China’s state-owned gas company, China National Petroleum Corporation, Liu Zhenli, who has been critical of the country’s reliance on imported liquefying capacity.
Liu said in 2016 that China’s domestic gas demand has reached an “excessive level.”
The Jiaodong project has faced criticism from environmental groups, as well as from some politicians and civil society groups.
A group of more than 1,200 Chinese businesses called on the Chinese government in February to halt the project, which they called a “dangerous and irresponsible project.”
The group said it was not a party to the legal action filed by China’s environmental protection ministry.
But the company’s chief executive, Xu Huiyao, responded to the group’s call for a halt by saying the project was “in the best interests of the company.”