Foster Wheeler Awarded Contract by Enagas for Spanish LNG Terminal Project

abarrelfullabarrelfull wrote on 08 Dec 2012 17:47

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Aug. 3, 2004

Foster Wheeler Ltd. (OTCBB:FWLRF) announced today that its subsidiary Foster Wheeler Iberia, S.A. has been awarded a contract for a liquefied natural gas (LNG) terminal expansion in Cartagena (Spain) by Enagas, the leading Spanish natural gas supplier.

Following the basic design of the LNG terminal expansion also executed by Foster Wheeler Iberia, the company will manage both the detailed engineering to be completed by the second quarter of 2005, and the construction to be completed by year-end 2006. The terms of the contract were not disclosed.

"With this latest award," stated Jesus Cadenas, chief executive officer of Foster Wheeler Iberia, "Foster Wheeler is now executing projects in the three Enagas LNG terminals, as well as collaborating with two other Spanish gas companies in Spain and Egypt. These awards emphasize the Madrid office's involvement in the LNG business, a significant continuous growth market."

The Cartagena terminal capacity will increase from 900,000 to 1,200,000 normal cubic meters per hour of gas, and the expansion project includes the installation of new vaporization lines, send-out pumps, water system, and a measuring station.

The booking is included in the second-quarter results.

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