Technip and Chiyoda signed a $4 billion contract in Qatar

Technip has signed with the Qatar Liquefied Gas Co. Ltd. II (Qatargas II) a contract for the world's second largest LNG trains.

Technip has signed with the Qatar Liquefied Gas Co. Ltd. II (Qatargas II) a contract for the world's second largest LNG trains. A joint venture Technip France and Chiyoda from Japan created will execute this contract. The contract value is $4 billion. Under this contract, the joint venture partners will engineer and build Trains 4 and 5 at the Qatargas plant in Ras Laffan. Each train will produce an expected minimum of 7.8 million tons per year of LNG, with Train 4 scheduled for start up in late 2007, and Train 5 approximately nine months later.

Qatargas II will be selling LNG from these new trains into the UK and commitments have been made through affiliates of Qatar Petroleum and ExxonMobil for the necessary regasification in the UK. Qatargas II has also made pre-investment in the offshore field development, the LNG storage facilities in Qatar, and the LNG transport carriers.

"This new award reinforces Technip's position in the fast-growing LNG market where the group has previously demonstrated its strong expertise on major turnkey projects in the Middle East and in West Africa," says Daniel Valot, chairman and CEO of Technip.

12-16-04

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