Doosan Heavy Industries Wins 610 Billion KRW Order for Dangjin LNG Terminal Storage Tanks

[Asia Economy Reporter Suyeon Woo] Doosan Heavy Industries & Construction announced on the 30th that it has signed a contract for the construction of storage tanks for units 1 to 4 of the Dangjin LNG Terminal Phase 1 project. The client is Korea Gas Corporation, and the contract amount is 610 billion KRW.

This project is being promoted to enhance the stability of domestic LNG supply and demand, and an LNG terminal will be constructed on approximately 890,000㎡ of land within the Seokmun National Industrial Complex in Dangjin-si, Chungnam Province. The project involves supplying four of the largest onshore LNG storage tanks in Korea, each with a capacity of 270,000㎘, built using a ground-level construction method where the LNG storage tanks are in contact with the ground, along with auxiliary facilities such as cryogenic pumps. Construction is scheduled to begin in August this year and be completed by December 2025.

Dangjin LNG Terminal Bird's-eye View / Photo by Doosan Heavy Industries

Doosan Heavy Industries & Construction formed a consortium with local construction company Gu-il General Construction to participate in a competitive bidding process and was selected as the final contractor. The consortium's share is 90% for Doosan Heavy Industries & Construction and 10% for Gu-il General Construction.

Park Inwon, Vice President of Plant EPC BG at Doosan Heavy Industries & Construction, stated, "According to the recently announced '14th Long-term Natural Gas Supply and Demand Plan,' domestic LNG demand is expected to increase from approximately 46 million tons in 2021 to 53 million tons in 2034. Accordingly, demand for storage tanks is also expected to rise, and we will strive to secure additional orders."

Doosan Heavy Industries & Construction has secured a total of nine LNG storage tanks to date, starting with the contract for storage tanks 11 and 12 at the Incheon Terminal in 1997, followed by tanks 18 and 19 at the Pyeongtaek Terminal and tanks 15 and 16 at the Tongyeong Terminal in 2007, and tanks 5 to 7 at the Samcheok Terminal in 2010.