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Saipem announces its share of the contract for the Mozambique LNG project

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Hydrocarbon Engineering,

Saipem, in joint venture with McDermott International and Chiyoda Corp., has reached agreement with Area 1 Concessionaires on an EPC contract to engineer and construct an onshore LNG project in Mozambique. Saipem’s share of the project is currently equal to about US$6 billion, and will operate as leader of CCSJV s.c.a.r.l. (CCS JV), the joint venture incorporated in Italy to execute the project.

The LNG project consists of the construction of two LNG trains, with a total nameplate capacity of 12.88 million tpy, as well as all necessary associated infrastructure, storage tanks and export jetty facilities.

The EPC contract is subject to a full notice to proceed which Anadarko is expected to issue after the final investment decision (FID).

“After many years of dedication to this project, we are very happy to announce that we have reached full agreement for the contract. We congratulate Anadarko and its co-venturers for the achievement and grateful for the confidence demonstrated toward our CCS JV. We look forward to mobilising our teams to site after Anadarko issues notice to proceed following the Final Investment Decision”, commented Stefano Cao, Saipem’s Chief Executive Officer. “With this project, we will strengthen our presence in East Africa, confirming Saipem’s role among the leaders in the LNG market for the energy transition. A project of such a scale will contribute significantly to the economic growth of Mozambique as a new pole in the west-east energy routes and, as Saipem, we are proud of our substantial contribute to these future developments”.

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