Contract for phase two in the Adriatic LNG terminal project

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Some elements of the terminal project are still to be approved by the Italian authorities. If approved and constructed, this could be the first concrete offshore LNG terminal in the world.


"We are happy to be awarded the contract for phase two as a result of our project execution of the front-end engineering design work for the LNG terminal, said executive vice president Simen Lieungh in Aker Kvaerner.


The work with the gravity-based structure continues in Aker Kvaerner's Oslo organisation while the Houston organisation continues the design of the LNG re-gasification topside.


Aker Kvaerner has already completed front-end engineering design (FEED) work for the LNG terminal. This phase is now completed. The terminal will be located 17 km from the shore in waters that are 29 metres deep. The terminal will receive LNG shipped rom Qatar, re-gasify the products, and feed the gas through pipeline to the Italian gas distribution network.


The contract does not include the final portion of the design work (i.e., the pipeline from the metering station to the main national grid).


The terminal has a storage capacity of 250,000 cubic metres in tanks in the concrete substructure, and it can re-gasify approximately 6 million metric tons of LNG per year.


The participants in the Adriatic LNG Terminal project include ExxonMobil, Qatar Petroleum and Edison, a major Italian energy company.  The phase two design contract is signed by Aker Kværner Contracting AS, a company within the Aker Kvaerner group.


ENDS

For further information, please contact:
 
Media:
Geir Arne Drangeid, SVP Group Communications, Aker Kværner ASA Tel: +47 913 10 458


Torbjorn S. Andersen, VP Group Communications, Aker Kvaerner ASA. Tel: +1 713 270 3618
 
Investor relations:
Lasse Torkildsen, VP Group Investor Relations, Aker Kværner ASA, Tel: +47 67 51 30 39
 
AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 21,000 employees in more than 30 countries. The Aker Kvaerner group consists of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kværner ASA.
 
Field Development Europe is a multidisciplinary and technology based organisation covering all technical and management functions for carrying out development of oil and gas fields world-wide, from wellheads to receiving terminal.
 
Aker Kværner Contracting AS is a contracting entity, tailormade to execute EPCM (Engineering, Procurement and Construction Management) and EPC (Engineering, Procurement and Construction) contracts worldwide. Focus regions are FSU, selected Middle East countries, West of Africa and Brazil. Aker Kvaerner Contracting's business idea is to capitalise Aker Kvaerner technology and know-how. Hence Aker Kvaerner Contracting provides Project Management, Concept development, Engineering and Procurement, by utilising the combined Aker Kvaerner Field Development competence. External specialist partners and partners being local to the Project Country or Region perform detail engineering and construction work.


This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com

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