OREANDA-NEWS. August 22, 2011. Japan's IHI Corp said that China's CNOOC Hainan Gas Co has awarded its consortium with Taiwan's CTCI and a Chinese design firm a contract for the engineering, procurement and construction work on a new LNG terminal in Hainan, southern China.

The consortium will build two 160,000 kilolitres tanks by summer 2014, enabling the receipt of 2 million tonnes of LNG annually.

The deal, made possible with cooperation from Marubeni , is worth about 15 billion yen (USD 195 million), an IHI official said. (USD 1 = 76.720 Japanese Yen).