Japan's IHI-led consortium wins LNG EPC contract

Japan's IHI Corp said on Tuesday that China's CNOOC Hainan Gas Co has awarded its consortium with Taiwan's CTCI and a Chinese design firm a contract for the engineering, procurement and construction work on a new LNG terminal in Hainan, southern China, Reuters reports. The consortium will build two 160,000 kilolitres tanks by summer 2014, enabling the receipt of 2 million tonnes of LNG annually. The deal, made possible with cooperation from Marubeni , is worth about 15 billion yen ($195 million), an IHI official said.