Page 17 - GLNG Week 25

GLNG NEWS IN BRIEF GLNG

AMERICAS business to be “marginally profitable” this Tianjin south port Industrial Zone in China,
year. An company executive said on the and are expected to be commissioned during
KBR to largely exit LNG webcast that KBR would disclose more details the last quarter of 2022.
along with its second-quarter results, which
Mrs. Wang Xinge, Chairwoman of HQC
Engineering and construction firm KBR has are due to be released next month. said at the occasion: “With the support
told investors and employees that it will exit of GTT, HQC had deeply prepared the
most of its LNG construction work and other company on building the first Membrane Full
energy projects. The move comes in response Containment tank in China. We are proud to
to customers pulling back from energy ASIA have been awarded this project and to lead the
investments. innovation in China together with Beijing Gas
KBR’s CEO, Stuart Bradie, told employees GTT will design two very and GTT.”
this week that the company would focus Mrs. Li Yalan, Chairwoman of the board
instead on government contracts and large LNG land storage of BGG added: “BGG has carried out a
technology businesses. It will “no longer comprehensive evaluation of the application
engage in lump sum, blue collar construction tanks in China of Membrane technology onshore, with
services”, he said, adding that the coronavirus national and international experts. Besides
(COVID-19) pandemic had speeded up As part of the BGG Tianjin Nangang LNG the high level of safety and the intrinsic
the decision to leave fixed-contract energy terminal, GTT has received an order from technical merits of the Membrane system
projects. the company China Huanqiu Contracting & for onshore application, this technology is
Bradie told investors on a call that about Engineering Co. Ltd. (HQC) for the design more cost effective and requires less material
85% of the company’s forecast earnings for of two Membrane Full Containment LNG than other available technologies, which
2020 are already expected to be derived from storage tanks. The two tanks, each with a net leads to a significant reduction of the impact
government business, up from about 11% in capacity of 220,000 cubic metres, will be the on the environment. Going forward, BGG
2015. He warned his employees that changes largest land storage tanks in China. is proud to take the leading role towards
in focus would also result in changes to how This order follows the agreement signed more environmental friendly infrastructure
the company operates, including “significant in November 2019 between GTT and the together with HQC and GTT for this national
realignment” in some offices. Chinese major state-owned company Beijing emergency project.”
KBR holds contracts for engineering Enterprises Group (BEG), at the occasion GTT, June 24, 2020
and construction services for several LNG of the presidential visit in China of French
projects. These include contracts at Freeport President Emmanuel Macron, in presence of The world biggest LNG-
LNG in Texas, the proposed Goldboro LNG Chinese President Xi Jinping.
terminal in Nova Scotia, Canada and the Mr. Philippe Berterottière, Chairman and powered Ice Class
Magnolia LNG project in Louisiana, which CEO of GTT declared: “We are honoured that
was recently taken over by Glenfarne Group. the project promoted by HQC, proposing our MegaRoRo Vessel
A final investment decision (FID) on technology, has been awarded. GTT is proud
Goldboro LNG was recently delayed, while to contribute in the technological partnership commenced full
given the recent change in ownership at between France and China. We are very
Magonolia LNG, it is currently unknown happy to collaborate with BGG, a long-lasting construction speed
how the project’s timeline has been affected. partner of ENGIE, and HQC to design two
Meanwhile a Freeport LNG spokeswoman, very large Membrane Full Containment tanks On the morning of June 22, 2020, the No.1
Heather Browne, told Reuters that her in China.” vessel of the world biggest LNG-powered, 1A
company had delayed its project to 2021 and GTT will design these membrane Full super ice classed, 5,800 LM series MegaRoRo
planned to seek new bids for construction. Containment tanks which will be fitted with New Buildings completed its keel laying
A KBR investor webcast from last week the GST® technology developed by GTT. The milestones in the Yantai shipyard of CIMC
said that the company expected the energy onshore storage tanks will be located in the Raffles. The keel laying is conducted on time,
which means the construction of the vessel
has started comprehensively in full speed.
Owner site representative, CIMC Raffles
project team, Class Society site team and
subcontractor representatives witnessed the
moment all together. Before this, the project
steel cutting was held in the shipyard on 30
March 2020.
Leading by Wallenius SOL professionals,
project team of CIMC Raffles make full use
of management advantage through close
cooperation with long-term subcontractors,
Class Society Lloyd’s Register, ship designer
Knud E. Hansen as well as all the suppliers,
minimise the impact of the ongoing global
COVID-19 pandemic.
As noted from front-end market, the

Week 25 26•June•2020 www. NEWSBASE .com P17