Samsung C&T Corporation wins Mexico LNG terminal BOO project

abarrelfullabarrelfull wrote on 09 Nov 2012 09:19

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Samsung C&T Corporation wins Mexico LNG terminal BOO project On March 10, 2008, Mexican Federal Electricity Commission(CFE.) awarded a consortium of Samsung C&T Corporation (“Samsung”,) Korea Gas Corporation (“KOGAS”,) and Mitsui & Co., Ltd (“Mitsui”) the LNG receiving terminal construction and operation project.

The project company established by Mitsui, KOGAS and Samsung will together embark on the construction in April of a terminal which has storage and re-gasification facilities on the site of 860,000 ㎡ in Manzanillo city located on the Pacific coast in Mexico.

The LNG terminal will begin commercial supply in 2011 with two-units of 150,000 ㎘ LNG receiving tanks and re-gasification facilities. The project company will be engaging in construction, management and operation (BOO:Build- Own-Operate) of the facilities for 20 years based on a service contract with CFE.

Equity participation of Samsung, Mitsui, KOGAS is respectively 37.5%, 37.5%, 25%. Samsung Engineering Co will undertake the engineering, procurement and construction works for the terminal, while Japan"s TOA Co will build the jetty for LNG vessels. The project is the first of its kind in which KOGAS, general trading and construction companies to jointly render service for a LNG terminal project.

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