Cryogenic Tank

CTCI & IHI Win NT$26.6 Billion EPC Contract for LNG Cryogenic Tanks

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CTCI Corporation, Taiwan’s leading EPC contractor, in joint partnership with Japan’s IHI Plant Services Corporation (IPC), has secured a major NT$26.6 billion EPC contract to construct four above-ground, double-domed liquefied natural gas (LNG) cryogenic tanks at the CPC Kaohsiung Intercontinental LNG Terminal. The project is commissioned by CPC Corporation, Taiwan’s state-owned energy firm.

Key Highlights of CTCI & IHI EPC Contract for Cryogenic Tank:

  • Contract Value: NT$26.6 billion
  • Project Scope: Four above-ground, double-domed LNG cryogenic tanks
  • Each Tank Capacity: 180,000 kiloliters
  • Project Client: CPC Corporation, Taiwan (state-owned petroleum company)
  • Project Location: CPC Kaohsiung Intercontinental LNG Terminal
  • Consortium Partners: CTCI Corporation (Taiwan) and IHI Plant Services Corporation (Japan)
  • Project Completion Target: Late 2030
  • Strategic Goal: Support Taiwan’s energy transition and enhance LNG storage
CTCI & IHI Win NT$26.6 Billion EPC Contract for LNG Cryogenic Tanks

Each tank will have a storage capacity of 180,000 kiloliters, significantly expanding CPC’s LNG handling capacity in the southern region of Taiwan.

The tanks are a critical element in CPC’s broader investment to establish a robust LNG storage and distribution terminal for petrochemical and refinery applications.

According to Michael Yang, Chairman of CTCI Corp., “We thank CPC for entrusting this project to us. Our partnership with IHI Corporation spans over two decades, and with our deep project management experience, we are confident this will be another successful venture.

We’re proud to incorporate ‘Green Engineering’ technologies and smart systems to minimize emissions and optimize energy usage.”

The project aligns with Taiwan’s strategy to boost natural gas to 50% of the electricity generation mix. This transition is essential as the country targets net-zero emissions, and shifts away from coal and oil. LNG demand is also rising due to industrial fuel switching from coal-fired boilers to cleaner alternatives.

Slated for completion by 2030, the LNG tanks will strengthen CPC’s ability to store and redistribute gas island-wide, ensuring a stable and resilient gas supply through both land and sea transport networks.

This win further reinforces CTCI Group’s role in global energy transition efforts, with an active presence in LNG terminals, gas-fired power plants, offshore wind, solar power, and emerging sectors like energy storage and decarbonized electricity.

The company continues to drive progress toward a cleaner energy ecosystem and contribute meaningfully to the global net-zero mission.

Source: https://www.ctci.com/www/ctci2022/page.aspx?L=EN&C=0992&XW=124

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