Fluor to book its $8.4 billion share of the about $14 billion
contract value in the fourth quarter of 2018
Fluor
Corporation (NYSE: FLR) announced today that LNG Canada has made the
final investment decision to build its liquefied natural gas (LNG)
export facility in Kitimat, British Columbia, Canada. Fluor’s joint
venture with JGC Corporation will provide the engineering, procurement,
fabrication and construction on the project. Fluor will book its $8.4
billion share of the about $14 billion contract value in the fourth
quarter of 2018.
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An aerial view of the LNG Canada site in Kitimat, British Columbia, Canada (Photo: Business Wire)
“Fluor remains focused on delivering capital efficiency for our clients
and we are excited that our joint venture team’s innovative solutions
have helped to enable LNG Canada to achieve final investment decision,”
said David
Seaton, Fluor’s chairman and chief executive officer. “We are
committed to closely collaborating with LNG Canada and the local
community to deliver this project safely and sustainably and to meet
client needs.”
The project scope will initially consist of two liquefaction units
(trains) for a total of approximately 14 million tons per year of LNG.
LNG Canada has the option to expand to four trains in the future.
“Fluor delivered its first project in Canada in the 1940s, which was a
refinery in British Columbia,” said Jim
Brittain, group president of Fluor’s Energy & Chemicals business.
“Since then, Fluor has been a part of some of Canada’s most significant
capital projects. We look forward to building LNG Canada’s facility and
bringing lasting economic benefits to the local community and British
Columbia.”
More than 4,500 workers will be employed at the peak of construction.
The joint venture will focus on hiring locally and then throughout
British Columbia and Canada. Fluor and JGC will begin site activities
this year, with first LNG expected around the middle of next decade.
LNG Canada is a joint venture comprised of Shell (40%), PETRONAS (25%),
PetroChina (15%), Mitsubishi Corporation (15%) and KOGAS (5%).
About Fluor Corporation
Founded in 1912, Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that transforms the
world by building prosperity and empowering progress. Fluor serves its
clients by designing, building and maintaining safe, well executed,
capital-efficient projects around the world. With headquarters in
Irving, Texas, Fluor ranks 153 on the Fortune 500 list with
revenue of $19.5 billion in 2017 and has more than 56,000 employees
worldwide. For more information, please visit www.fluor.com
or follow Fluor on Facebook,
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and YouTube.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181002005463/en/
Copyright Business Wire 2018
Source: Business Wire
(October 2, 2018 - 6:45 AM EDT)
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