The company said that, valued at $680 million, the contracted engineering, procurement and construction (EPC) work began in November 2007 with a limited notice to proceed. A full notice to proceed with the full project scope was provided recently with a planned completion date set for the second quarter of 2011.

The liquefied natural gas (LNG) receiving terminal project will consist of two 160,000 cubic meter full-containment LNG tanks and a vaporization system. Once complete, the facility will process approximately 1.5 billion standard cubic feet of gas per day, providing the US Gulf Coast region with clean burning natural gas, the company said.

John Siffert, president of Aker Kvaerner’s LNG business, said: We are excited to move forward on the engineering and construction phase of this Gulf Coast region LNG regasification terminal. Being selected for this project demonstrates the confidence that our customers have in the experience and abilities of the Aker Kvaerner and IHI team.