NEWS
KBR, Technip awarded $2Bln Yemen contract
Houston, Sept 7 (LNG journal)
- Halliburton subsidiary KBR and its joint venture partners France's Technip and JGC Corp. of Japan won a $2 billion lump-sum, turnkey contract to build Yemen's first liquefied natural gas plant.
The Yemen LNG complex will be located in the port of Bal Haf on the southern coast of Yemen and will consist of two liquefaction trains with a combined capacity of 6.7 million tons per year.
Train 1 is expected to start up by the end of 2008 and Train 2 will come on line about five months later, the companies said.
The Total-led Yemen LNG project was given to go-ahead just last month and also involves Hunt Oil Co. of the US and others.
Yemen LNG has signed three 20-year sale and purchase agreements with France 's Suez LNG Trading, South Korea 's Kogas and Total Gas & Power.
The Yemen project is 43 percent owned by Total and 23 percent is held by the government's Yemen Gas Co. The South Korean companies, SK Corp. and Hyundai Corp., own 10 percent and 6 percent respectively. Hunt Oil Co. of the US holds a further 18 percent of the venture.
Under the agreements with Kogas, the South Korean utility will acquire a 6 percent interest in Yemen LNG in the near future.
