KNPC awards $3bn LNG deal to Korean consortium
Contract has been awarded to South Korean group led by Hyundai Engineering
A South Korean consortium led by Hyundai Engineering and Construction has reportedly been awarded a $2.93bn deal in Kuwait.
The consortium will build liquefied natural gas (LNG) facilities in the country.
Kuwait National Petroleum Company awarded the deal to the consortium, which also includes state-owned Korea Gas Corporation.
Contract scope includes the construction of re-gasification facilities and LNG tanks at Al Zour.
Korea Gas accounts for $120m of the deal, according to South Korea's Yonhap News Agency.
Hyundai Engineering will be in charge of the re-gasification plants, while the construction firm will build the LNG tanks and coastal facilities.
The consortium said the project will be completed in 2020.