LNG terminal FEED contract for Fluor

Source: Fluor Corporation

Fluor Corporation (NYSE: FLR) announced today following a formal signing ceremony in Kuala Lumpur, Malaysia, that it was awarded a contract by PETRONAS Gas Berhad, a subsidiary of PETRONAS, to provide front-end engineering and design (FEED) services for a new liquefied natural gas (LNG) regasification terminal in Malaysia. The new terminal will supply gas to an adjacent 300-megawatt combined cycle power plant in the town of Lahad Datu, Sabah. Fluor booked the undisclosed contract value in the first quarter of 2012.

“We are pleased to add another significant LNG project to the growing relationship between the PETRONAS Group and Fluor in Malaysia,” said Ken Choudhary, senior vice president of Fluor’s Energy & Chemicals business. “This LNG terminal will help address additional power generation needs, which in turn, will contribute to further industrial and economic development in the region.”

Fluor will be utilizing local subcontractors and suppliers for various facets of the project.

This contract further consolidates Fluor’s position in Malaysia where the company is performing other projects in the oil refining sector and in the LNG regasification business and where significant project growth opportunities are expected in the near term.

Fluor was previously part of a joint venture that provided PETRONAS with preliminary engineering services for a new LNG liquefaction plant at the existing facility in Bintulu, Malaysia.

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