Daewoo Engineering & Construction said on the 16th that it has completed the third-phase construction of the Ulsan North Port liquefied gas and petroleum products terminal.
The third-phase construction of the Ulsan North Port liquefied gas and petroleum products terminal is a project ordered by Korea Energy Terminal Co., Ltd., jointly established by Korea National Oil Corporation (KNOC) and SK Gas. It is a project to build one LNG storage tank with a capacity of 215,000 kiloliters at Ulsan North Port, a regasification and send-out facility with a capacity of 180 tons per hour, and ancillary facilities.
Daewoo Engineering & Construction carried out the project jointly with SK Ecoengineering and, as the lead company, oversaw design, procurement, and construction. The contract amount is about 223.5 billion won, and the construction period totals 45 months, from July 2022 to April 2026. Daewoo Engineering & Construction obtained the final completion certificate and, after subsequent procedures, wrapped up the project in June.
The project builds an LNG terminal that stores liquefied natural gas (LNG) unloaded by ship in a storage tank, then regasifies it into a gaseous state and supplies it to power plants and industrial sites. It is expected to expand the foundation for a stable supply of natural gas and contribute to strengthening the competitiveness of Korea's energy infrastructure.
A Daewoo Engineering & Construction official said, "We will continue to expand our order-winning competitiveness in LNG terminal and energy infrastructure markets at home and abroad."