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According to a report on the **NDRC website dated October 13, in order to further enhance the natural gas supply and storage capacity in Shandong Province and surrounding areas, promote economic and social development in the Bohai Sea region as well as the optimization of the energy structure, and improve air quality, approval has been given for the construction of the Sinopec Longkou liquefied natural gas receiving station. The project owner is Sinopec Yantai Longkou Liquefied Natural Gas Co., Ltd. The project is located in the Longkou Port Area of Yantai City, Shandong Province. The main construction tasks include: building 1 LNG berth with a capacity of 266,000 cubic meters (by renovating a bulk cargo terminal), constructing 4 LNG storage tanks with a capacity of 220,000 cubic meters each, as well as installing related facilities for unloading, gasification, loading, and temperature-controlled water intake. In accordance with the \"Methods for Determining the Capacity of Liquefied Natural Gas Receiving Stations\" (SY/T 7434-2018), assuming that the terminal meets its designed throughput capacity, the maximum capacity of this receiving station is 6.5 million tons per year. The total investment for this project is 8,304,020,000 yuan, of which 7,845,660,000 yuan is allocated to construction costs, 445,910,000 yuan to interest during the construction period, and 1,245,000 yuan to working capital for the initial phase. Capital funds account for 30% of the total investment, funded by the project owner’s own funds. The rest is covered by bank loans.