LNG

June 12 (LNGJ) - The UK Wood Group plc, a global leader in energy consulting and engineering, has been awarded a new three-year contract worth $46 million by French major TotalEnergies to boost natural gas availability in southern Iraq. Wood will provide front-end engineering and design, detailed design, procurement support and construction and commissioning assistance for the first phase of the Associated Gas Upstream Project, part of the Gas Growth Integrated Project (GGIP) venture.

   “The GGIP includes the recovery of gas currently flared in the Basra region to supply power generation plants, along with the construction of a seawater treatment unit and a 1 gigawatts solar power plant,” said Wood. The contract will be delivered by Wood’s teams in Basra and Dubai, creating 100 new positions. Wood currently employs over 1,300 people in Iraq and the United Arab Emirates.

Long-term contract prices of liquefied natural gas linked to crude oil are set to increase in the weeks ahead as the Organisation of Petroleum Exporting Countries led by Saudi Arabia and other Non-OPEC oil-producing countries opted at a summit in Vienna to extend cuts in oil production through 2024 and with the Saudis making an additional reduction in their own output.

DP World, a leading ferry and freight provider, has launched the first large-scale direct freight service between the United Arab Emirates and Iraq to make the flow of goods between the two countries faster, safer and more efficient and cutting delivery times to 36 hours by ferry from 14 days by land.

JGC Corp. Holdings, the leading Japanese LNG engineering company that has just been awarded a contract for floating LNG in Nigeria, said it expected the US Cameron LNG terminal expansion project in Louisiana and the Freeport LNG Train 4 venture in Texas would move forward with engineering contracts in 2023.