New EPC (Engineering / Procurement / Construction) contract for Saipem in Africa. The Italian company was awarded a maxi order in joint venture with McDermott International and Chiyoda Corporation in Mozambique for the Anadarko LNG project. The contract, which as regards Saipem has worth $6 billion, is related to the engineering and construction of an onshore liquefied natural gas project in the African country. In detail, the LNG project consists of the construction of two natural gas liquefaction trains, with a total nominal capacity of 12,88 million tonnes per year (MTPA), as well as all the necessary infrastructure, storage tanks and facilities ports for export.
Saipem will act as leader of CCS JV scarl, the joint venture set up in Italy for the execution of the project. The contract was awarded by Anadarko Moçambique Area 1 Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, which operates Area 1 Offshore as operator. “With this project we strengthen our presence in East Africa, confirming Saipem's role among the leaders in the LNG market in the logic of energy transition. A project of this magnitude will contribute substantially to the economic growth of Mozambique as a new pole in the west-east energy routes”, comments Stefano Cao, CEO of Saipem. Not surprisingly in the middle of the day the stock of the energy company is at the top of the Ftse Mib, with a gain of approximately 4% to 4,188 euros per share.
