Shanghai Honghua Offshore Oil and Gas Equipment entered into the first offshore LNG platform construction Heads of Agreement (HOA) with Argo LNG Partners, LLC, with a total value of approximately USD 1.8 billion. The liquefied natural gas facility will comprise four production platforms, four storage platforms, an accommodation platform, one central processing platform and a pier for LNG ships. Its annual processing capacity and storage capability will be up to 3.6 million metric tons and 240,000 cubic meters, respectively.