ENGIE and Shaanxi Houde Tongxing (HD) said they signed an investment agreement in Yulin, Shaanxi Province, China, to establish a joint venture (of which ENGIE holds 35 pct shares).

The venture aims to build one of the largest LNG industrial base in the North-West region of China and to develop LNG downstream activities.

The total estimated investment for these two phases amounts around 1400 million RMB (around 200 million euros).

In addition, the Joint Venture will launch the study at the beginning of 2016 about the construction of a LNG storage center in Yulin aiming to realize the peak shaving by LNG.