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Black & Veatch named LNG industry EPC Contractor of the Year
Industry honor comes as clients seek innovative, flexible solutions in low-price environment
Black & Veatch, a global leader in the design, construction and delivery of innovative floating liquefied natural gas (FLNG) production and regasification solutions, has been named EPC Contractor of the Year. The award, presented to Black & Veatch at the recent LNG USA Summit 2018 in Houston, cited the company’s advanced capabilities in executing complex projects and coincides with increasing investor interest in flexible, cost-effective LNG solutions that can more quickly move supply to end users.
Black & Veatch has been a pioneer in floating LNG, providing engineering, procurement and construction (EPC) solutions for topside liquefaction equipment and packages using its patented PRICO® LNG technology. The PRICO® process uses a single-mixed refrigerant loop for natural gas liquefaction, a method that requires minimal equipment and reduces capital and operating expenses.
“Being named EPC Contractor of the Year at the LNG USA Summit demonstrates our commitment to helping clients meet their objectives, regardless of project size, by being the top EPC solutions provider for FLNG developments,” said Bob Germinder, Senior Vice President and Managing Director of Floating Oil & Gas Solutions for Black & Veatch.
Floating applications typically require fewer resources and can more quickly move supply to end users versus traditional onshore facilities, which is particularly crucial in the current price environment. Commercial viability was named by survey respondents as the top driver for making FLNG investment decisions, followed by implementation costs, according to Black & Veatch’s 2017 Strategic Directions: Natural Gas Industry Report. Cost and speed of delivery are top priorities for investors.
“This honor at the LNG USA Summit recognizes the core strengths behind Black & Veatch’s leadership position in the natural gas marketplace. Our innovative solutions combined with efficient, cost-effective and on-time EPC capabilities make us a one-stop solution for clients,” said Javid Talib, Vice President and Director of Floating Technology Applications for Black & Veatch’s Oil & Gas business.
Black & Veatch recently delivered the regasification system for the world’s first barge-based FLNG regasification and storage unit. The barge-based floating storage and regasification unit (FSRU) was delivered in December 2017 from a shipyard in Nantong, China for global oil and gas shipper Exmar. At the LNG USA Summit, Talib represented Black & Veatch on a panel analyzing cost-effective strategies for FSRU and FLNG projects, highlighting the company’s leadership in delivering low-cost FLNG solutions.
LNG liquefaction was named the second most critical infrastructure investment for growth in the natural gas market, according to Black & Veatch’s report. Though large-scale projects have proven benefits, sustained low natural gas prices and thin margins are prompting innovation-minded FLNG project developers to increasingly consider smaller or mid-size solutions, the report found.
Black & Veatch has supported LNG infrastructure developments for more than 50 years, combining technology and know-how on LNG production, storage, regasification and send out facilities with seamless solutions for design, procurement, fabrication and construction.