The Korea Gas Corporation (Kogas) has completed the $1.2bn first stage of its new liquefied natural gas (LNG) terminal at Samcheok in South Korea.
Construction on the Samcheok LNG production base was confirmed in 2006 and began in 2010.
The first stage of the LNG production terminal included a reclamation lot with a floor space of 330,000mÂ², a breakwater with a complete length of 1.8km as well as a berth with capacity for 127,000t LNG carriers.
“The Samcheok LNG production base will herald a new era of the clean energy of natural gas in the eastern cost of Korea in the future.”
This phase also included a waterway and turning basin, four 200,000 KI LNG storage tanks, and LNG submerged combustion vaporisers with a maximum of 780t per hour.
The company invested nearly $1.19b to complete the terminal construction.
Kogas CEO Lee Seung-hoon said: “The Samcheok LNG production base will herald a new era of the clean energy of natural gas in the eastern cost of Korea in the future.”
The second and third stage of construction is expected to complete by 2016 and 2017, respectively.
Samcheok LNG terminal, the company’s fourth import terminal, will have 12 storage tanks.
The company completed construction of three tanks by the end of 2015 and plans to complete another six tanks by the end of June 2016.
The remaining three storage tanks are expected to be completed by the end of May 2017.
During 2017, Kogas plans to open a fifth import terminal at Jeju Island off the southern coast.