LNG

May 27 (LNGJ) - South Korean project company GS Engineering and Construction is advancing with plans to build an LNG import terminal in the southwestern city of Yeosu in South Jeolla Province, which would be Korea’s eighth import facility. GS Engineering estimates the terminal will cost around 600 billion South Korean won ($440M) and will have two LNG storage tanks, each with a capacity of 200,000 cubic metres as well as auxiliary facilities and port infrastructure.

   The company added that once completed by around 2028, the terminal would supply regasified LNG to industrial companies and power plants at the national industrial complex at Yeosu. The oldest Korean terminal was completed in 1986 at Pyeong-Taek, followed by an expanded network comprising Incheon (1996), Tong-Yeong (2002), Gwangyang (2005), Samcheok (2014), Boryyeong (2016) and Jeju (2019).