Hyundai-led consortium bags $3bn Kuwait LNG deal

The South Korean consortium will build re-gasification facilities and LNG tanks at Al Zour, with project completion expected in 2020

KNPC awarded a $2.93bn deal to a South Korean consortium. [Representational image]
KNPC awarded a $2.93bn deal to a South Korean consortium. [Representational image]

A South Korean consortium led by Hyundai Engineering and Construction has reportedly been awarded a $2.93bn (KWD880.20) deal in Kuwait.

The consortium will build liquefied natural gas (LNG) facilities in the country. 

Kuwait National Petroleum Company (KNPC) awarded the deal to the consortium, which also includes state-owned Korea Gas Corporation. 

Contract scope includes the construction of re-gasification facilities and LNG tanks at Al Zour. 

Korea Gas accounts for $120m of the deal, according to South Korea's Yonhap News Agency.

Hyundai Engineering will be in charge of the re-gasification plants, while the construction firm will build the LNG tanks and coastal facilities.

The consortium said the project will be completed in 2020.

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