LNG

South Korean engineering and construction company, POSCO E&S has won a Won1.5 trill ($1.1 bill) contract to build Thailand’s first public/private LNG terminal.

The Map Ta Phut (MTP) LNG terminal project is being jointly commissioned by Gulf Development, a major Thai private energy investor, and PTT Tank Terminal, a subsidiary of PTT, Thailand’s largest state-owned energy company.

The LNG import terminal will be located in the Map Ta Phut industrial estate, about 130 km from Bangkok.

Under the terms of the contract, POSCO E&C will build two 250,000 cu m LNG storage tanks, unloading facilities and regasification equipment capable of handling 8 mill tonnes of LNG per annum.

The company has completed more than 20 petrochemical, oil, gas and power plant projects in Thailand since 2002.

“This contract demonstrates our technological capabilities in LNG terminal construction,” said a POSCO E&C in a statement. “We will continue to expand into global markets, leveraging POSCO Group’s LNG business expertise.