Technip confirms that with its partners it has finalized the award by JSC Yamal LNG of a very major contract for a liquefied natural gas (LNG) facility with a capacity of 16.5 million tons per year (Mt/y). The project will comprise three liquefaction trains of 5.5 Mt/y that are among the world's largest and will make extensive use of modularized construction in yards.
Technip, for the past 14 months, has been involved in providing project planning, detailed engineering, estimation and procurement work for the client. This early engagement gives a comprehensive understanding of the project, around which the project execution plan has been built and handover of the first train is planned for 2017.
The scope of work will consist of:
- engineering, procurement and module fabrication on a fixed-price basis,
- site construction on a reimbursable basis.
Technip will recognize order intake estimated at euros 4.5 billion across the second and third quarters 2014.
Following the successful estimation, early detailed design and procurement activities, this award validates the Group’s strategy of early involvement to design an effective project execution scheme bringing value to clients.
Note: as previously indicated, the Yamal LNG project has not been part of Technip's Onshore/Offshore guidance. Updated guidance for Onshore/Offshore will be given with our second quarter results.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).
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