Taiwan engineering, procurement and construction (EPC) services provider CTCI Corporation has won a NT$26.6bn ($810m) EPC joint bid with Japan’s IHI Plant Services Corporation (IPC) to build four above-ground, double-domed liquefied natural gas (LNG) cryogenic tanks by late 2030.
The tanks have a storage capacity of 180,000 kilolitres each, for CPC Corporation, Taiwan’s state-owned petroleum company, at CPC Kaohsiung Intercontinental LNG Terminal.
CTCI has undertaken several previous cryogenic storage tank projects for CPC.
CTCI Chairman Michael Yang said the company has been partnering with IHI Corporation for over two decades and the latest project would enable it to showcase its latest sustainable engineering and intelligent technologies.
The tanks are 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 a forecast surge in demand for natural gas, which aims to take up 50% in the energy mix for electricity generation, as Taiwan seeks to diversify its generation sources and take steps to reach Net Zero emissions.
A further factor in the planning is the fuel transition for industrial boilers. The 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 as needed.
According to gasworld Intelligence, Taiwan has 104 industrial gas production facilities. Its industrial gas market, fuelled by rapid industrialisation, has registered strong demand for oxygen, nitrogen, and hydrogen, particularly from sectors such as steel, chemicals, and semiconductors.
