The firm has signed a Joint Development Agreement with Thai companies Italian-Thai Development and LNG Plus International in Bangkok on August 19 to cooperate on developing the terminal. It will consist primarily of an LNG receiving and re-gasification terminal at Dawei special economic zone.
LNG is natural gas with has been condensed by cooling it to at least -162 degrees Celsius (-260 Farenheit), which reduces its volume to about 1/600th the size. This makes it much easier to transport by ship.
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