TechnipFMC wins Arctic LNG 2 job worth over $1 billion
- Business & Finance
TechnipFMC has been awarded a major Engineering, Procurement and Construction (EPC) contract by Novatek and its partners for the Arctic LNG 2 project located in the Gydan peninsula in West Siberia, Russia.
For TechnipFMC, a “major” contract is over $1 billion; the consolidated contract value to TechnipFMC for Arctic LNG 2 is $7.6 billion.
This development will consist of three liquefied natural gas (LNG) trains, each with a capacity of 6.6 Mtpa, which will be installed on three gravity-based structure platforms.
TechnipFMC said on Tuesday it would execute this project under a lump sum and reimbursable basis. It will cover the EPC of the three LNG trains and associated topsides, which will be manufactured on a modular basis in Asian and Russian yards.
It is worth reminding that Novatek announced last May that the partnership had signed a contract with TechnipFMC on engineering, procurement, supply, construction and commissioning of an integrated liquefied natural gas facility with an annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project. The contract terms provide for the launch of the first train of the project in 2023.
Nello Uccelletti, President Onshore/Offshore at TechnipFMC, commented: “We are extremely honored to be entrusted with this new contract by Novatek and its partners. We are leveraging our successful track record on the Yamal LNG project and notably the modular fabrication scheme.”
Earlier this week, Novatek closed the sale of participation interests in its Arctic LNG 2 Project to two Chinese companies and a consortium of two Japanese companies thereby forming the structure of the project’s participants.
The project participants now include Novatek (60%), Total (10%), CNPC (10%), CNOOC (10%) and the Japan Arctic LNG (10%).
Offshore Energy Today Staff
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