Technip confirms very major project award for engineering, procurement and construction of Yamal LNG
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 company says in its press release. 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.
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
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