Black & Veatch was awarded EPC Contractor of the Year at the recent LNG USA Summit 2018. The award cited the company’s advanced capabilities in executing complex projects and coincides with increasing investor interest in flexible, cost-effective LNG solutions that can more quickly move supply to end-users.
The company is a key LNG provider of floating LNG, engineering, procurement and construction (EPC) solutions for topside liquefaction equipment and packages using its patented PRICO® LNG technology. The process uses a single-mixed refrigerant loop for natural gas liquefaction, a method that requires minimal equipment and reduces capital and operating expenses.
Floating applications typically require fewer resources and can more quickly move supply to end-users vs traditional onshore facilities, which is particularly crucial in the current price environment. Commercial viability was named by survey respondents as the top driver for making FLNG investment decisions, followed by implementation costs, according to Black & Veatch’s 2017 Strategic Directions: Natural Gas Industry Report. Cost and speed of delivery are top priorities for investors.
Black & Veatch recently delivered the regasification system for the world’s first barge-based FLNG regasification and storage unit. The barge-based floating storage and regasification unit (FSRU) was delivered in December 2017 from a shipyard in Nantong, China, for global oil and gas shipper Exmar. At the LNG USA Summit, Talib represented Black & Veatch on a panel analysing cost-effective strategies for FSRU and FLNG projects.
LNG liquefaction was named the second most critical infrastructure investment for growth in the natural gas market, according to Black & Veatch’s report. Though large-scale projects have proven benefits, sustained low natural gas prices and thin margins are prompting innovation-minded FLNG project developers to increasingly consider smaller or mid-size solutions, the report found.
“Being named EPC Contractor of the Year at the LNG USA Summit demonstrates our commitment to helping clients meet their objectives, regardless of project size, by being the top EPC solutions provider for FLNG developments,” said Bob Germinder, Senior Vice President and Managing Director of Floating Oil & Gas Solutions for Black & Veatch.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/09032018/black-veatch-receives-epc-contractor-of-the-year-award/