China announced that it has started to build a liquefied natural gas (LNG) terminal at a capacity of 4 million tons with investments of $1 billion in the southern coastal province of Guangdong, Reuters reported.

The terminal construction is under discussions between ExxonMobil and other partners for a joint investment.

According to a statement issued by Xinhua news agency, the project will start operation of the import facility by the end of 2023.

ExxonMobil has signed a preliminary contract in 2018 to build a petrochemical complex and LNG terminal in China.