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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Containership Becomes Largest to Sail the Thames

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long,

Futuristic Bridge Concept by Rolls-Royce

In 2013 alone, Rolls-Royce invested £1.1 billion on research and development while at the same time supporting a global network of 31 University Technology Centers,

ExxonMobil Encouraging Girls into Engineering

ExxonMobil is encouraging girls to consider science, technology, engineering and math (STEM) careers through the '12th-annual Introduce a Girl to Engineering

Energy

Brookings Institution Hosting Panels on LNG Marine Fuel

The Brookings Institution, a Washington D.C.-based think tank, will host a two-panel discussion on the use of LNG as a marine fuel on Tuesday, March 3, the organization announced today.

CGG to cut Vessel Fleet Further

French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1160 sec (9 req/sec)