Two domestic energy companies will also spend in the terminal.
The project comprises of a berth to dock LNG carriers with a shipping capacity of 80,000-266,000 cubic meters, and three storage tanks with a capacity of 160,000 cubic meters each.
In the second phase, the project is designed to receive six million tones of LNG every year.
CNOOC said it would also collaborate with local energy firms to set up a 38.7-kilometre natural gas pipeline with an initial transportation capacity of 4.2 billion cubic meters per year.
With the completion of the second phase, the gas link can move 8.4 billion cubic meters of gas.
