Page 15 - DMEA Week 42 2022

DMEA NEWS IN BRIEF DMEA

business new europe bne/IntelliNews

for the North Field Production Sustainability
Offshore Compression Complexes Project–EPC
2 located offshore the north-east coast of Qatar.
The contract value amounts to approximately
$4.5bn.
The scope of work encompasses the engineer-
ing, procurement, fabrication and installation of
two offshore natural gas compression complexes
aimed at sustaining the production of the North
Field, including two of the largest fixed steel
jacket compression platforms ever built, flare
platforms, interconnecting bridges, living quar-
ters and interface modules.
To execute this project, Saipem will leverage
on its own assets, know-how and competences
on offshore engineering, installation and fabri-
cation, as well as its capability to maximize local
content.
This prestigious award represents the larg-
est single offshore contract by total value in the
company’s history. It follows the award in early
2021 related to offshore facilities for extraction
and transportation of natural gas for the same
field and demonstrates the continuity and the
quality of Saipem’s performance in Qatar.
With this contract, Saipem accelerates its
strategic repositioning in the offshore segments
“These potential projects are an important kick- & Chemical Corp. (Sinopec) which is the largest (E&C and drilling) which represent the large
start to our decarbonisation journey and create oil and petrochemical products supplier and the majority of the announced order intake year-
an exciting opportunity to contribute to the second largest oil and gas producer in China. It is to-date, further supporting the delivery of its
South African government’s aspirations to tran- the largest refining company and the third larg- Strategic Plan.
sition to a green economy,” said ArcelorMittal’s est chemical company in the world. Saipem, October 20 2022
CEO Kobus Verster. The terminal, which has nominal capacity of
bna/IntelliNews, October 19 2022 3mn tonnes per year (tpy) of LNG, comprises Energy think-tank predicts
four storage tanks, each with an overall capacity
of 640,000 cubic metres. Ghanaian fuel shortage
TERMINALS & TRANSPORT Qatargas, in collaboration with Sinopec and
PipeChina Beihai LNG terminal, has cleared ves- amidst cedi’s steady slide
Qatargas-chartered Q-Flex sels up to size of Q-Max (266,000 cubic metres). Ghana may experience a shortage of petroleum
This facilitates customer to receive larger vol-
LNG vessel calls at China’s umes along with additional flexibility to wider products triggered by the further depreciation of
the cedi against the US dollar and rising global
range of LNG receiving terminals.
Beihai LNG terminal 2009 to date, Qatar has supplied China with The cedi this week overtook Sri Lanka’s rupee
Since the first LNG delivery in September oil prices, a local think-tank warns.
Qatargas Operating Co. Ltd (Qatargas) has more than 85mn tonnes of LNG. China is a as the world’s worst-performing currency to
delivered an LNG cargo aboard a Q-Flex vessel key and strategic energy partner for the State of the US dollar, taking its loss this year to 45.1%,
to China’s Beihai LNG terminal, the first ever call Qatar throughout the entire energy value chain. the most among 148 currencies tracked by
by a Qatargas-chartered vessel at this terminal. It is also a main driver of the growth in the global Bloomberg.
The Q-Flex vessel, Al Sahla, is the largest LNG LNG market as the government adopts increas- The depreciation and higher oil prices is
carrier to call at the terminal since the start of its ingly progressive environmental policies. resulting in the erosion of working capital of
operations in 2016. Qatargas, October 18 2022 Bulk Oil Distribution Companies (BDCs), said
Al Sahla was loaded with 205,000 cubic Nana Amoasi VII, executive director of the Insti-
metres of LNG on September 14 at Ras Laffan tute for Energy Security (IES).
Port and called at Beihai LNG Terminal, located REFINING & FUELS “There is something to be much worried
in the Tieshan Port Industrial Zone in Beihai about and that’s the likelihood of the shortage
Zhuang Autonomous region in Guangxi prov- Saipem awarded contract of the commodity on the market on the back of
ince of China on October 5. It became the larg- a reported shortage of dollars for the Bulk Oil
est LNG carrier to call the terminal, which has by Qatargas worth Distribution Companies, the importers, and
capacity to also accommodate the even larger the erosion of working capital of some of these
Q-Max LNG vessels carrying up to 266,000 approximately $4.5bn importers. The price of crude oil remains high
cubic metres. and the cedi value continues to decline,” he said,
The cargo was delivered to China Petroleum Saipem has been awarded a contract by Qatargas as quoted by Pulse News.

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