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Saipem will participate in the joint venture for the construction of the Arctic LNG-2

02.08.2019       

Saipem has agreed with TechnipFMC and NIPIgazpererabotka to participate in a joint venture to build a liquefied natural gas (LNG) plant Arctic LNG-2.
Saipem announced this on August 2, 2019
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Saipem received a share in the project worth about 2.2 billion euros.
The contract includes detailed design, procurement, manufacture, construction and commissioning (EPC contract) 3 production lines (TRAIN) with a capacity of 6.6 million tons/year each, which will be installed on concrete gravity-type bases (GBS).
On the signing of a contract for the construction of the Arctic LNG- 2 with TechnipFMC NOVATEK reported back at the end of May 2019, but the details of the project were not named at that time
In July 2019, TechnipFMC announced some details.
Project FEED (interface and design) TechnipFMC will do with Linde and NIPIGAZ.
TechnipFMC project EPC will do with Saipem and NIPIGAZ.< /div>
The contract's consolidated value is $7.6 billion.
Saipem also recalled that it is already participating in the Arctic LNG-2 project.
As part of a joint venture with the Turkish Renaissance, the company is engaged in the design and construction of GBS for the Arctic LNG-2 liquefaction lines.
The cost of this contract is also 2.2 billion euros (1.1 billion euro per company).
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