« BackNews: New LNG Import Terminal Approved In South Korea

New LNG Import Terminal Approved In South Korea

The Korea Gas Corporation (Kogas) is set to build the fifth LNG import terminal in South Korea, with the first deliveries of fuel expected in 2025.

LNG World Shipping reported on the project, which will see the firm construct 10,200,000m3 storage tanks, as well as associated infrastructure in the country’s port of Dangjin on the west coast.

Kogas is the second-largest LNG importer in the world and already operates LNG import terminals elsewhere in the country, including at Incheon, Pyengtaek, Samcheok and Tongyeong.

When the whole complex is completed in 2031, there will be ten LNG storage tanks, as well as offloading and gasification infrastructure.

South Korea isn’t the only location in Asia where new LNG storage facilities are in the pipeline. Last month, the Sri Lankan government announced its intent to partner with organisations in India and Japan to construct an LNG import terminal in the island nation.

Petronet LNG, India’s largest importer of the fuel, is set to form a joint venture with Japanese and Sri Lankan organisations to deliver the scheme near Colombo, LNG World News reported. It’s estimated that the cost of the project will come in at around $250 million.

Sri Lanka’s government is keen to find alternative sources to help meet growing energy demand around the nation, although the location of the LNG terminal near the capital is no accident, as much of the country’s power generation capacity is situated here.

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