Korea Gas says on track to build 3 new LNG storage tanks by end-July

SEOUL, June 13 Fri Jun 13, 2014 5:43am EDT

Related Topics

SEOUL, June 13 (Reuters) - Korea Gas Corp (KOGAS) is on track to complete construction of three new liquefied natural gas (LNG) storage tanks by end-July for its upcoming fourth import terminal and is currently testing them, a company spokesman said on Friday.

South Korea's state-run gas company is building a total of 12 storage tanks at its fourth LNG import terminal that is coming up in the city of Samcheok, more than 250 kilometres east of Seoul.

KOGAS, the world's largest corporate buyer of LNG, aims to complete another six tanks by the end of June 2016 and the remaining three by the end of May 2017, he said.

The firm currently has a total of 4 million tonnes of storage capacity at its existing three terminals. The new terminal will add a combined capacity of 2.6 million kilolitres, or 1.3 million tonnes, according to a company document. (Reporting by Meeyoung Cho; Editing by Muralikumar Anantharaman)

FILED UNDER: