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Under the EPC contract, IHI Plant Services Corporation (IPC) and CTCI will build four above-ground, double-domed LNG cryogenic tanks at CPC’s Kaohsiung intercontinental LNG terminal.
According to a statement by CTCI, the deal is worth NT$26.6 billion, or $806.2 million.
This project is scheduled to be completed by late 2030.
CTCI said the LNG storage tanks are a key part of CPC’s investment in setting up a storage and transport terminal for its petrochemical and refinery products at Taiwan’s southern shore.
They are also a response to the forecast demand surge for natural gas, which aims to take up 50 percent in the energy mix for electricity generation, as the nation seeks to diversify its generation sources and take steps to reach net zero emissions.
CTCI said these tanks will enhance CPC’s LNG storage capacity, ensure stable gas supply in the southern region, and be ready to redistribute gas across the island through land and sea networks when in need.
In December 2024, CPC received approval from the environment ministry for the intercontinental LNG terminal, or the seventh terminal.
CPC said the facility is expected to have a capacity of 6 million tonnes per annum, which could be completed in 2031.
It would help Kaohsiung transition from coal power, while Taipower’s Talin power plant would be one of the terminal’s main customers.
In addition, the facility would also supply gas to power industries, homes, and other users, CPC said.
Taiwan currently imports LNG via two terminals operated by CPC.
CPC operates the Yung-An LNG terminal with a capacity of 10.5 mtpa and the Taichung LNG import terminal with a capacity of 6 mtpa.
The firm is also expanding its Taichung LNG terminal.
In addition, CPC is also working on the Guantang LNG terminal and the Zhouji LNG terminal.