LNG Group Panama Selects Contractor to Build Regasification Terminal

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--LNG Group Panama Company (Panama City, Panama) has selected the Venezuelan subsidiary of Duro Felguera S.A. Company (Asturias, Spain) as general contractor for the engineering, procurement and construction (EPC) of a reception, storage and regasification liquefied natural gas (LNG) terminal, valued at $300 million.

The project involves the construction of a terminal on Telfers Island, with a storage capacity of 175,000 cubic meters and three regasification units, bringing total regasification capacity to 6 billion cubic meters per year.

The objective of this project is to use gas to generate electricity and replace the use of other fuels, thereby reducing the environmental impact. According to the schedule, construction will begin in August 2014 and be completed by the first quarter of 2017.

After the terminal construction, a new storage tank will be added, bringing the plant regasification capacity from 6 billion cubic meters per year to 8 billion cubic meters per year.

Duro Felguera S.A. specializes in energy and industrial projects. Panama represents a new market for the company. In addition, the regasification terminal construction is new to the company, which previously has been only devoted to tank construction.

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