TechnipFMC Awarded a Major Contract for the Arctic LNG 2 Project in West Siberia
TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a major(1) 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.
This development will consist of three liquefied natural gas (LNG) trains, each with a capacity of 6.6 Mtpa(2), which will be installed on three gravity-based structure platforms.
TechnipFMC will 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.
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. This project recognizes the experience and expertise of our teams as well as their capacity to deliver the most ambitious and innovative projects. It also confirms the leadership of TechnipFMC both in the LNG market and in the transition journey of the global energy industry.”
TechnipFMC’s Arctic LNG 2 Project Overview Presentation can be accessed on TechnipFMC’s website (https://investors.technipfmc.com/events-presentations/company-presentations).
(1)For TechnipFMC, a “major” contract is over $1 billion; the consolidated contract value to TechnipFMC for Arctic LNG 2 is $7.6 billion
(2)Mtpa: million tons per annum
Note: This inbound order was included in the Company’s second quarter 2019 financial results.
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About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
