It will be the company's sixth LNG import facility.
The South Korean company Korea Gas Corporation (KOGAS) is planning to a sixth LNG import facility in order to cope with the increasing demand for LNG in the country.
According to Enerdata, the firm has selected the Seomkum National Industrial Complex in Dangjin (located 120 km southeast of Seoul) as the location for the terminal. The final investment decision (FID) is expected for December 2017 while the terminal is scheduled to be completed by 2031. \
Here's more from Enerdata:
The project still requires approval from the local government and if it is not endorsed, KOGAS will then conduct studies on other targeted sites.
There are five LNG import terminals in Korea and Kogas owns all of them except Gwangyang, which belongs to Posco. The first, located in Pyeong Taek, was commissioned in 1986 (53 bcm/year); the second, located in Incheon, was commissioned in 1996 (50 bcm); the third, located in Tongyeong, was commissioned in 2002 (16 bcm); the fourth, in Gwangyang, was commissioned in 2005 (2.3 bcm); and the fifth, in Samcheok, commissioned in 2015 (9.9 bcm/year).
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