South Korea’s LNG importing giant Kogas is planning to build another domestic terminal to meet rising demand for the fuel in the country.
Kogas currently operates four LNG import terminals in South Korea, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.
Kogas said in a statement on Thursday it has selected the Seomkum National Industrial Complex in Dangjin, located some 120 kilometers southeast of Seoul, as the location for its fifth facility. However, the project requires approval from the local government.
If the company does not receive government approvals it plans to conduct studies on alternate target sites. Kogas plans to unveil the final decision by December 17, after completing the consultation with local governments and signing the basic agreement.
The construction of the facility is expected to be completed in 2031, while the first of ten 200,000 cubic meter LNG storage tanks will be completed by the end of 2025, the company said.
LNG World News Staff