NCC is building LNG tanks in the UK worth SEK 274 million

NCC Construction AS has, in a joint venture with the UK company Balfour Beatty, been awarded a civil contract to build three concrete LNG storage tanks at Isle of Grain in Kent, UK. Mobilization for the project has already started and work shall be completed during the second half of 2007. NCC’s share of the project is about SEK 274 million.

The three tanks will have a storage capacity of 190.000 cubic meters each and form a key part of the extension of the current gas plant by the mouth of the river Thames. The civil part of this LNG project will be carried out in a joint venture between Balford Beatty and NCC, equally sharing the total contract cost of SEK 548 million. The joint venture will be working under the main EPC contractor Chicago Bridge and Iron (CB&I). Construction of the tanks will be using the same slip forming technology as was successfully performed at Statoil’s LNG project Snøhvit at Hammerfest, Norway. The Hammerfest success was based on the introduction of new concreting techniques, which have been noticed by other worldwide LNG plant developers. The experiences gained from the highly similar Snøhvit project provided NCC with specialist expertise in the area. The assignment also fits in well with NCC’s contract portfolio. The UK assignment does not mean that NCC is changing its strategy of concentrating on operations in the Nordic region and within the countries around the Baltic Sea. However, the LNG sector offers business opportunities within a niche that is highly compatible with the experience and know-how that NCC has accumulated from the Norwegian oil and gas industry. For further information, please contact: Petter Moe, Senior VP NCC Construction Norway, +47 415 50 764 Trond Johansen, Technical Director NCC Construction Norway, +47 905 56 430 Øyvind Kvaal, Senior VP Communication, NCC Construction Norway, + 47 900 76 910