Chiyoda Corporation has signed a contract for the engineering, procurement and construction (EPC) of Al Khaleej Gas Phase 2 Project (AKG-2) with RasGas Company Limited, which is acting on behalf of and as agent for ExxonMobil Middle East Gas Marketing Limited.
This contract for the gas processing train, with capacity to support gas sales of 1,250 MSCFD of natural gas, was awarded on an exclusive negotiation basis and will be executed by a joint venture led by Chiyoda Corporation with Technip France (CTJV). The Front End Engineering and Design (FEED) work for the AKG-2 Project was also performed by Chiyoda.
After its completion in 2009, AKG-2 Project will produce sales gas to satisfy the increasing domestic gas demand in Qatar and eventually contribute to the further development of the infrastructure for Qatari industry. The AKG-2 train will also have the capability for ethane recovery. The value of the contract exceeds US$ 1.6 billion.
CTJV is currently executing the world's 6 largest LNG trains, each with capacity of 7.8 MMTPA per train, in Ras Laffan, Qatar. The lessons learned from the AKG-1 Project and the ongoing LNG projects in the region will contribute to the success of the AKG-2 Project, thus realizing the earliest monetization of the gas reserve by fast-track project execution and the synergy effect afforded by simultaneous execution, in particular, with RasGas (3) LNG Trains 6 and 7. In addition, AKG-2 Project will enjoy the maximum benefit generated by CTJV's innovative execution approach of employing its Reliability Program.