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Hyundai E&C and Hyundai Engineering Win $2.9 bn Al-Zour LNG Teminal

Source: 3/16/2016, Location: Middle East

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Hyundai E&C and Hyundai Engineering have received the deal valued at over three trillion won, together with the government-run Korea Gas Corporation, to construct a large-scale liquefied natural gas (LNG) plant in Kuwait. The achievement is based on extensive experience and technological expertise of Hyundai E&C in the construction of plants and infrastructure and outstanding competences of Hyundai Engineering in the designing of petrochemical plants. 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.

The Al-Zour LNG Import Terminal Project worth 2.93 billion dollars, or approximately 3.6 trillion won, 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. The Korea Gas Corporation is responsible for commissioning and operation training for the client. Construction will take 58 months and is scheduled to be completed in 2020.

For more information about related Opportunities and Key Players visit Kuwait Oil and Gas Projects

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

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