With current oil prices in a slump and LNG pricing likely to remain tight for the next few months, further pressure has been put on Canadian LNG project investors to move towards final investment decisions (FID), or risk losing out to rivals in the US.
British Columbia in particular has driven an ambitious message, however before any project reaches FID an array of investors, stakeholders and lenders will need convincing that any such projects are economically sound and rewarding.
Ultimately, delivering competitively priced projects will come down to a collaboration of will between the engineering, procurement and construction (EPC) firms and the operators who commission these teams to deliver. Recent months have witnessed many key Canadian LNG front-end engineering and design (FEED) contracts being awarded to the world's leading EPCs, with a great volume of subsidiary work (such as construction management and project execution) being awarded across the country, as urgency to move projects forward ramps up.
Many leading firms including CB&I, Fluor, Foster Wheeler, JGC, Linde and Saipem have won major contract awards and other such as KBR, Samsung and Technip await key bid decisions for lead roles in Canadian project delivery.
EPC firms and companies interested in becoming supply chain vendors on the construction of these projects are helping to drive awareness of innovation and advancement in LNG technology at the Canada LNG Export Conference & Exhibition, where the inaugural 'Centre of Operational and Technical Excellence' will be dedicated to delivering knowledge, education and awareness of technological innovations.
The centre will provide a platform for global industry experts to showcase latest developments in LNG project management lifecycle, pipeline infrastructure and LNG and gas carrier operations and technology, to an audience of Canadian LNG proponents, developers and industry stakeholders.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14012015/canada-to-deliver-on-lng-projects-44/