Tokyo Gas Co, Japan's biggest natural gas utility, plans to build the world's biggest LNG tank in Yokohama, near Tokyo, for roughly 158 million to meet projected growth in demand.
The 250,000 kilolitre tank will be able to hold 115,000 tonnes of liquefied natural gas, topping the current record-holding 200,000 kl storage facility, which it owns, the company said.
Construction is to be completed in October 2013.
Tokyo Gas had announced it would build a fourth LNG tank at the Yokohama plant, but it had not specified the storage capacity.
The company has placed an order to a consortium of Shimizu and a wholly owned construction firm of IHI.