Posted - Published May 13, 2013 - Dow Jones Newswires - foxbusiness.com/news
John Wood Group PLC (WG.LN), an international energy services company, Monday said it has been awarded a multi-million dollar engineering contract for the Bonaparte Liquefied Natural Gas project in Australia by operator, GDF Suez S.A. (GSZ.FR).
MAIN FACTS:
-This is GDF SUEZ's first Liquefied Natural Gas, or LNG, project in Australia, which will give the company a further foothold in the gas markets of the Asia Pacific region.
-The Bonaparte LNG project is made up of the Petrel, Frigate and Tern fields, located in the Timor Sea, which were previously stranded gas fields, but recent technology advances and innovation mean these fields are now more economically viable to develop.
-The key to unlocking this gas is floating liquefied natural gas, or FLNG.
-This technology represents a new emerging market for the oil and gas industry, with the Asia Pacific region in the driving seat for the production.
-Currently, there are no operational FLNG facilities in the world.
-However, in recent years a number of FLNG projects have been proposed and are now under development in Australia.
-The Bonaparte LNG project represents a strategically important contract award for Wood Group as GDF is a new client developing its first FLNG project in Australian waters.
-The subsea concept definition study will be executed by Wood Group's Australian team located in Perth, Western Australia.
Post to be found at:
http://www.foxbusiness.com/news/2013/05/13/john-wood-group-gets-multi-million-dollar-australian-lng-contract/
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