LNG Plant Bids Accepted

Friday, August 03, 2001
An international consortium developing two oilfields off Russia's Sakhalin island invited three international groups to bid for a tender to build the world's largest liquefied natural gas plant. The Sakhalin energy consortium said in a statement the three were French Bouygues Offshore, French Technic with U.S. Foster Wheeler, and Japan's Chiyoda Corp. with Toyo Corp. The Sakhalin energy consortium is led by Royal Dutch Shell. The $1 billion-plus contract involves construction of a liquefied natural gas (LNG) plant -- Russia's first -- with annual capacity of 9.6 million tons by 2006, the statement said. In addition to the LNG plant the contractor will design and build a crude oil export terminal and related facilities on the Sakhalin's southern coast. The contract, to be awarded in the second quarter of 2002, is part of the second phase of development of the $8.9 billion Sakhalin-2 project. The money, which has yet to be raised, will be used to develop the two offshore fields, to build oil and gas pipelines to the south of the island, as well as the LNG plant, and oil and LNG export terminals. Output would be shipped to Japan, South Korea and Taiwan. The consortium is operated by Shell, which owns 55 percent, while Japan's Mitsui & Co. and Mitsubishi Corp. have 25 percent and 20 percent respectively. Sakhalin Energy has already invested $1.6 billion in the first stage of the project, which is currently producing about 35,000 barrels per day. The entire output is being shipped to Japan and South Korea. Sakhalin-2 reserves amount to about 140 million tons in oil and up to 400 billion cubic meters in natural gas. - (Reuters)
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Shipping Season Opens on the Mississippi

First tow marks unofficial opening to Mississippi River navigation season   M/V New Dawn arrived at Lock and Dam 2 near Hastings, Minn. Wednesday morning, marking

Garamendi Introduces Bipartisan GPS Backup Bill

Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on the Coast Guard and Maritime Transportation,

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

Energy

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1600 sec (6 req/sec)