Korean Consortium to Build LNG Terminal in Kuwait
A consortium of Hyundai E&C, Hyundai Engineering and KOGAS has won a contract to build a large-scale liquefied natural gas (LNG) plant in Kuwait.
The deal is valued at 3.6 trillion won ($3 bn), Hyundai E&C said in a statement published on its website earlier this month.
The Al-Zour LNG import terminal project includes the construction of a regasification facility and eight LNG storage tanks and the civil works for coastal facilities in Al-Zour, 90 kilometers south of Kuwait’s capital, Kuwait City.
Hyundai E&C is expected to be in charge of the construction of the LNG tanks and the docking facilities while Hyundai Engineering will build the regasification facility. KOGAS is responsible for commissioning and operation training for the client. Construction will take 58 months and is scheduled to be completed in 2020.
As the number of orders from the Middle East has been decreasing due to low oil prices, the Al-Zour LNG Import Terminal Project is attracting attention as a new model where private and public companies join hands together to take the highly profitable deal in the area, Hyundai E&C said.
Construction will take 58 months and is scheduled to be completed in 2020.