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Product category: Oil, Gas, Petrochemical Industry News
News Release from: Aker Kvaerner Oil and Gas | Subject: LNG contract
Edited by the Processingtalk Editorial Team on 20 July 2006

Partnership wins another large LNG
contract

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Aker Kvaerner, in a JV with Ishikawajima-Harima Heavy Industries, has won a contract for the engineering, procurement and construction of the Ingleside Energy Centre regasification terminal in Texas

Aker Kvaerner, in a joint venture (50/50) with Ishikawajima-Harima Heavy Industries (IHI) has been awarded a contract for the engineering, procurement and construction of the Ingleside Energy Centre regasification terminal in Texas The contract value to the Aker Kvaerner and IHI joint venture is USD 665 million

The project is expected to take approximately three years to complete, after the Ingleside Energy Centre elects to issue a Notice to Proceed.

Construction is scheduled to begin in the first quarter of 2007.

The Ingleside Energy Centre LNG terminal will be the second large LNG regasification project to combine Aker Kvaerner expertise in regasification engineering and construction management for LNG facilities and the IHI position as a market leader within design and manufacturing of LNG storage and processing systems in one integrated delivery model.

The design and engineering will be directed from Houston involving approximately 125 personnel from Aker Kvaerner and IHI.

In addition, the project will employ a peak construction labour force of approximately 750.

"We are proud of our track record within the oil and gas and LNG regasification industry and our unique partnership with IHI for excellence in delivering LNG tanks and terminals," said John Siffert, President of the Aker Kvaerner LNG business.

"We look forward to working with Ingleside Energy Centre, which we believe will benefit from this exclusive collaboration between two leading global EPC project delivery companies with a proven delivery model".

Ingleside Energy Centre, a subsidiary of Occidental Petroleum Corporation, was granted a Federal Energy Regulatory Commission (FERC) permit in July 2005.

The facility will process approximately 1.0 billion cubic feet of gas per day.

Aker Kvaerner, the centre of excellence in LNG regasification terminals and IHI, the largest global supplier of LNG onshore storage tanks are the contract parties responsible for delivering the project.

The consortium is a powerful alliance which draws on the best expertise of the partners to deliver an outstanding result for our customers and together brings over 35 years of combined experience in LNG storage and regasification.

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