The southern Chinese port city of Shenzhen is offering subsidies to LNG operators to boost its development as an LNG trading hub city.
According to the notice from Shenzhen Development and Reform Commission, Shenzhen is going to actively explore new LNG trading models, attracting large-size shipping companies and their subsidiaries to conduct business in Shenzhen, supporting them to build a self-controlled LNG shipping system and further reducing LNG transportation costs.
The city will provide an up to RMB10m ($1.39m) reward annualy to each newly built or purchased large-size LNG carrier within five years old for three consecutive years, as well as SPV companies running LNG carrier leasing services in the Qianhai area of Shenzhen.
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To improve LNG distribution capacity, Shenzhen will also develop LNG distribution and multi-model transportation center and offer up to RMB5m rewards to those opening up new LNG shipping services departing from Shenzhen along the Pearl river delta.
LNG refueling service providers at Shenzhen port also have the opportunity to receive the financial reward.
Reference: https://www.seatrade-maritime.com/lng-carrier/shenzhen-provides-subsidies-lng-carrier-operators