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Daewoo Engineering & Construction and SK Ecoplant (formerly SK Engineering & Construction) signed a contract with Korea Energy Terminal for the construction of the Ulsan North Port petroleum products and liquefied gas terminal Phase 3 LNG package. The project includes one 215,000 kL LNG tank and vaporization/send-out facilities with an annual capacity of about 1 million tons, with a contract value of approximately KRW 220 billion (about USD 170 million). Construction runs from August 2022 to April 2026.