Duke Energy Corp. plans to build a $250 million facility in North Carolina to stockpile heating fuel for the coldest days of the year.

The 685-acre liquefied natural gas production and storage plant in Robeson County will include a tank to hoard the equivalent of 1 billion cubic feet of heating fuel, enough for 100,000 homes on a frigid day, said Frank Yoho, president of Duke’s natural gas business. The project, slated to start up in the summer of 2021 to stockpile LNG for that winter, needs approval from North Carolina regulators, he said.

“We will be...