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05-06-2012

Petronas awards EPCIC contract for floating LNG project

The contract, awarded via PETRONAS’ wholly owned subsidiary PETRONAS Floating LNG 1 (L) Ltd, was signed today in Kuala Lumpur. PETRONAS was represented by its Executive Vice President (Gas & Power Business) Datuk Anuar Ahmad, while Executive Vice President of Technip Group Mr. Philippe Barril, Chief Executive Officer of Technip Geoproduction Mr. Edgar Pushparatnam and Senior​ Vice President of Daewoo Shipbuilding & Marine Engineering Mr Wan Soo Ryu signed on behalf of their respective companies.
 
The FLNG facility is scheduled to be ready for start-up by end of 2015. It will be moored about 180 kilometres off the coast of Bintulu, Sarawak, and is designed to produce 1.2 million tonnes a year (mtpa) of LNG. Once on stream, the facility will boost Malaysia’s total LNG production capacity to 26.9 mtpa from 25.7 mtpa currently.

Once operational, the facility is expected to change the landscape of the LNG business where the liquefaction, production and offloading processes of LNG, previously only possible at onshore plants are now able to be carried out hundreds of kilometres away from land and closer to offshore gas sources.

As such, the facility will also play a significant role in efforts to unlock the gas reserves in Malaysia’s remote and stranded fields currently deemed uneconomical to develop and evacuate.


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