South Korean LNG importer Kogas has completed lifting the roof on the first 270,000-cbm tank at its LNG import facility in the western port city of Dangjin.
According to a statement by Kogas, the operation of lifting the roof using air pressure on the giant LNG tank took place on May 9.
The firm said this is the first 270,000-cbm LNG tank of four being built at the terminal, the largest LNG tanks in South Korea.
Also, Kogas expects to complete roof raising on the remaining three tanks by August.
Back in 2021, Doosan Heavy Industries & Construction and its partner Kuil Construction won the contract from Kogas to build the four LNG tanks as part of the first phase of the Dangjin LNG terminal.
This phase will be completed next year but Kogas has plans to build in total ten tanks by 2030.
Kogas LNG business
Kogas currently operates 77 LNG storage tanks at five LNG import terminals in South Korea, and the company is one of the world’s largest LNG importers.
The large terminals include Incheon, Pyeongtaek, Tongyeong, and Samcheok, while the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.
Kogas recently signed a new long-term LNG sale and purchase deal with UK-based energy giant BP to buy up to 9.8 million tonnes of LNG over 11 years on a delivered ex-ship (DES) basis.
This deal is in addition to the existing long-term SPA between BP and Kogas for DES supply of LNG that was signed in 2022.
Prior to this new deal with BP, Kogas agreed to buy about 0.5 million tonnes per year of LNG for a period of 10.5 years on a delivered basis from Australia’s Woodside.