21 Jan '11, 8am

DTN Singapore: Samsung C&T to build S'pore's third LNG tank: SINGAPORE: Singapore LNG Corporation has awarded th...

SINGAPORE: Singapore LNG Corporation has awarded the contract for the third Liquefied Natural Gas or LNG storage tank to Samsung C&T. In a joint statement, both companies said the contract is for the engineering, procurement and construction of the storage tank. According to newswires, the value of the contract is about 200 million US dollars. With the addition of the third 188,000 cubic metre LNG tank, the terminal will be able to handle up to six million tonnes per year. The companies said this gives Singapore greater flexibility in meeting its future gas needs and in pursuing new businesses in the LNG market. Head of South East Asia Headquarters for Samsung, Paul Shin said that with the knowledge gained from the previous project phase, Samsung has the key ingredients to ensure the success of this project. Chief Executive of Singapore LNG, Neil McGregor, said the third t...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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