Flour enters service agreement for new floating LNG import terminal in Lithuania

Source: Fluor Corporation

Fluor Corporation (NYSE:FLR) has been awarded a contract by Klaipedos Nafta AB, Lithuania’s state-owned oil company, to provide engineering and business support services for a new floating liquefied natural gas (LNG) import terminal in Klaipeda, Lithuania. Fluor booked the undisclosed contract value in the second quarter of 2011.

Under the contract, Fluor will provide Klaipedos Nafta with engineering, technical, risk management, safety and environmental advisory services. As the lead advisor, Fluor will prepare the technical development plan and assist in selecting technologies, as well as developing a business plan for the terminal.

“Fluor is pleased to serve as an advisor to Klaipedos Nafta’s development phase for a new LNG terminal in Klaipeda,” said Peter Oosterveer, president of Fluor's Energy & Chemicals Group. “This is another sign of growth in the LNG market and the growing importance of that development in the Baltic region.”

“We selected Fluor as the lead advisor due to their having the best experience, optimal work execution and price, and we are pleased with the fact that negotiations were completed successfully and in a timely manner,” said Rokas Masiulis, general manager of SC Klaipedos Nafta.

Fluor has previous experience in Lithuania as the engineering, procurement and construction contractor for the Butinge Oil Terminal Project for Mazeikui Nafta in Butinge, Lithuania, in 1999. In the early 1990s, Fluor conducted a feasibility study and developed siting plans for Lithuania’s Energy Ministry for the expansion of its Klaipeda oil terminal.

Klaipedos Nafta operates the oil terminal in the city of Klaipeda, which is located on a Baltic Sea port and is part of a key shipping route for Eastern Europe.

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