Wednesday 21 April 2021

Samsung C&T wins $2bn Qatar Petroleum project deal

DOHA, March 2, 2021

Samsung C&T Corporation has secured a major engineering, procurement, and construction (EPC) contract from Qatar Petroleum for the expansion of the LNG storage and loading facilities located within Ras Laffan Industrial City as part of the North Field East (NFE) Project.
The order, worth more than $2 billion, had been awarded on a lump sum basis and was the second major onshore EPC contract award for the NFE project. 
Earlier this month, Qatar Petroleum had awarded the EPC contract for the construction of four LNG mega-trains with associated facilities to Chiyoda Technip Joint Venture.
Both contracts represent the culmination of front-end engineering and design work that began in early 2018.
This contract marks another concrete step towards the further development of Qatar's natural gas resources, and enhancing the country's position as the world’s largest, most reliable LNG producer, stated Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, after signing the deal with Oh Se-chul, the President and CEO of Samsung C&T.
"This contract provides for the expansion of existing infrastructure required to ensure the safe loading and on-time delivery of our LNG cargoes to our international customers across the globe. Its scope includes three LNG tanks and three LNG loading berths for NFE, and options for two LNG tanks and one LNG berth for NFS project, and all associated pipes, lines and loading lines," noted Al Kaabi.
On completion, the NFE Project will boost Qatar’s LNG production capacity from 77 million to 110 tonne per annum (MTPA). 
The second phase of the planned LNG expansion, the North Field South (NFS) Project, will further increase Qatar’s LNG production capacity from 110 MTPA to 126 MTPA by 2027, he added.-TradeArabia News Service


More Construction & Real Estate Stories

calendarCalendar of Events