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Kuwait inks $2.9bn LNG deal with Korean firms

KUWAIT, March 31, 2016

Kuwait has signed a $2.93 billion contract with three South Korean firms for the construction of a liquefied natural gas (LNG) import facility at the Al-Zour refinery, a report said.

The project was awarded to Hyundai Engineering Co., Hyundai Engineering & Construction Co. and Korea Gas Corporation, added the France 24 report.

The project is expected to be completed in the first quarter of 2021, CEO of national refiner Kuwait National Petroleum Co. Mohammad Al-Mutairi was quoted as saying in the report.

The facility will also have a 615,000 barrel-per-day refinery and a petrochemicals plant.

The cost of the complex is expected to reach $30 billion, according to Al-Mutairi.




Tags: LNG | Kuwait | Hyundai | Al-Zour |

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