CTCI Corp., IHI awarded EPC contract to build LNG cryo tanks for CPC Corp. in Taiwan
Taiwan’s leading engineering, procurement, and construction (EPC) services provider CTCI Corporation announced today that it has jointly won a NT$26.6 billion (> $800 MM) EPC bid with Japan’s IHI Plant Services Corporation (IPC) to build four aboveground, double-domed LNG cryogenic tanks, with a storage capacity of 180,000 kiloliters each, for CPC Corp., Taiwan’s state-owned petroleum company, at CPC Kaohsiung Intercontinental LNG Terminal.
The successful bid builds on CTCI’s extensive experience and track record in the LNG terminal field globally, as well as multiple cryogenic storage tank projects previously completed for CPC.
“We thank CPC for entrusting this project to us,” said Michael Yang, CTCI Corp. Chairman. “CTCI’s partnership with IHI Corporation has spanned over two decades. With extensive track record and project management experience, we’re confident that this project will become another success. The tank storage project will serve as another example of CTCI’s commitment to safeguarding the Earth’s sustainability, as we choose to adopt environmentally-friendly ‘Green Engineering’ technologies and intelligent technologies to expedite greenhouse gas emissions reduction and energy saving.”
The LNG storage tanks are a key part of CPC’s investment in setting up a storage and transport terminal for its petrochemical and refinery products at Taiwan’s southern shore. They are also a response to the forecast demand surge for natural gas which aims to take up 50% in the energy mix for electricity generation, as the nation seeks to diversify its generation sources and take steps to reaching net zero emissions. An additional factor to the demand surge is fuel transition for industrial boilers. Slated to be completed by late 2030, these tanks will enhance CPC’s LNG storage capacity, ensure stable gas supply in the southern region, and be ready to redistribute gas across the island through land and sea networks when in need.
CTCI Group has played active role in the global energy transition by undertaking LNG terminal, gas-fired power plant, solar power, offshore wind projects, and continues to explore new realms of energy storage, new energy, and decarbonized electricity. These efforts help strengthen the ecosystem of cleaner energy and allow the Group to contribute to global net zero emissions and environmental sustainability.
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