Chiyoda, Technip Win $4 Bln Qatar LNG Trains Deal
Wed Dec 21, 2005
DOHA (Reuters) - A joint venture of French firm Technip (TECF.PA: Quote, Profile, Research) and Japan's Chiyoda (6366.T: Quote, Profile, Research) won a $4 billion contract on Wednesday to build two LNG trains in Qatar.
Qatar's Energy Minister Abdullah bin Hamad al-Attiyah, who presided over the signing of the contract with state-run Qatar Petroleum (QP), told reporters the trains will be set up at the Qatargas plant in Ras Laffan.
A Technip statement issued in Paris said the trains would each have a production capacity of 7.8 million tonnes a year and their output will be primarily sold in U.S. markets.
"Under this contract, the Technip-Chiyoda joint venture will carry out the engineering, procurement and construction of Trains 6 and 7 at the Qatargas plant in Ras Laffan," QP said in a statement.
Qatargas 3, a joint venture between QP, ConcoPhillips (COP.N: Quote, Profile, Research) and Mitsui, owns train 6 which will start production in 2009.
Qatargas 4, a joint venture between QP and Royal Dutch Shell (RDSa.L: Quote, Profile, Research), will own train 7 and commence at the end of 2010.
Technip's> shares rose 4.15 percent to 51.40 euros by 1041 GMT on the news, while Chiyoda Corp was up 12.6 percent.
OPEC producer Qatar, with the world's third-biggest natural gas reserves, is expected to supply an annual 77 million tonnes of liquefied natural gas per year by 2012.
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