South Korea Completes Jeju LNG Storage, Distribution Facility

South Korea’s trade, industry and energy ministry November 28 announced the completion of an LNG storage and distribution facility on the island of Jeju.

Work on the project started in 2012 and cost won 543bn ($460mn), the ministry said. The facility is composed of two storage tanks.

The Jeju facility is expected to facilitate the stable supply of electricity in the Jeju area, improve the energy welfare of Jeju residents, and revitalise the local economy, the ministry said. The supply to Jeju households is expected to begin in March 2020.