China's new free-trade zone supports ENN's LNG ambitions
On 1 April 2017, the Chinese government established Zhoushan district in Zhejiang province as a free-trade zone. The district is home to China’s third largest port, Ningbo-Zhoushan, and the free-trade zone's aim is to develop bulk commodity storage, transhipment and trading. This comes as welcome news to emerging LNG buyer ENN, which is currently building an LNG terminal in the district. Accompanying tax exemptions now mean ENN will have a competitive price advantage in marketing LNG when the Zhoushan terminal comes online in 2018.