Boskalis Unit Secures PNG LNG Contract

Royal Boskalis Westminster N.V. announced that its associated company Smit Lamnalco has been awarded a 10-year contract with additional extension options by Esso Highlands Limited (a subsidiary of ExxonMobil) for providing terminal services at the Papua New Guinea liquefied natural gas (PNG LNG) export terminal near Port Moresby.

The total contract value is USD 120 million (Boskalis share USD 60 million) and services will commence mid-2014.

The PNG LNG export terminal is part of a larger integrated LNG production, processing and liquefaction project which started following the discovery of three major gas field in Papua New Guinea. Both the offshore and onshore infrastructure is currently under construction and expected to be operational in 2014. Smit Lamnalco will provide towage and marine support services for LNG vessels at the terminal for which it will invest in 4 new 65 ton bollard pull tugboats.

[mappress]
LNG World News Staff, June 26, 2012; Image: Oil Search