Gas Gong, Begins Construction of 3.3 Trillion Won Natural Gas 5th Terminal

Aerial view of Korea Gas Corporation's 5th base (Photo by Korea Gas Corporation)

[Asia Economy Reporter Moon Chaeseok] Korea Gas Corporation announced on the 30th that it held a 'Natural Gas 5th Base Construction Office Plaque Ceremony' event.

The Gas Corporation selected Seokmun National Industrial Complex in Dangjin, Chungnam as the site for the 5th base in March 2018, and completed the preliminary feasibility study by the Ministry of Economy and Finance in August last year.

They will invest 3.3265 trillion KRW in a site of approximately 890,000㎡.

They will sequentially build ten 200,000㎘ LNG storage tanks, vaporization and sending facilities, a 270,000㎘ LNG carrier docking facility, and bunkering-related facilities by 2031.

Separately from the base construction, about 121 km of pipelines for natural gas transmission and 10 supply management stations will also be established.

Chae Hee-bong, President of the Gas Corporation, said, "The 5th base will support future-oriented government energy policies," adding, "It will become the cornerstone for realizing national energy welfare through stable natural gas supply."

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