Annova LNG brings equity investment from major construction, engineering firms
Published by Laura Dean,
Deputy Editor
Hydrocarbon Engineering,
Black & Veatch Corporation and Kiewit Energy Group Inc. announced that they have made an equity investment in the Annova LNG export project in Brownsville, Texas. Both companies cite the project’s recent commercial progress as a reason for their investment.
Concurrently, Black & Veatch and Kiewit have been awarded the engineering, procurement and construction (EPC) contract for the Annova LNG 6 million tpy project on a joint basis.
“Annova LNG is pleased to welcome Black & Veatch and Kiewit as both equity investors and strategic partners that will provide unparalleled expertise in the design, engineering and construction of our LNG facility,” said Omar Khayum, Annova LNG CEO. “We recognise that our target customers place high value on a track record of delivering critical projects on time and within budget, and Annova LNG has now taken significant steps to achieve that. The Annova LNG project continues to advance, and this announcement is another example of that progress.”
“The Annova LNG Brownsville Project will have a positive, lasting impact on the local community and further strengthens the Port of Brownsville’s position as a global energy hub,” said Tom Shelby, president of Kiewit Energy Group, Inc. “We are honored to serve as the EPC contractor and look forward to working with the Annova LNG team. Through our extensive experience in the energy market, we are well-equipped to engineer and construct a world-class LNG export facility.”
“Black & Veatch's role in the Brownsville export facility underscores our reputation as a go-to EPC provider in the global oil and gas space," said Hoe Wai Cheong, president of Black & Veatch's oil & gas business. “This project aligns with our key strengths – LNG facilities and our EPC expertise. Our long-standing partnership with Annova and Exelon on this project started from original inception through to the FEED stage. This partnership will bolster the region's economic future and further position the US as a vital supplier to crucial export markets worldwide.”
Terms of the deal are undisclosed.
Annova LNG would support an average of approximately 700 on-site jobs over a four-year period. Upon completion of the facility, Annova LNG would employ approximately 165 permanent full-time workers to run and manage the plant.
Annova LNG commercial operations is scheduled for 2024.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/23102018/annova-lng-brings-equity-investment-from-major-construction-engineering-firms/
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