LNG

July 26 (LNGJ) - Subsea 7, the Norwegian-listed contractor working on projects including the Sakarya gas field in the Black Sea, Turkey’s largest ever discovery that will reduce LNG needs, said it expected a rise in revenues as “pricing and contract terms showed continued positive momentum” during the second quarter.

   The company reported an 11 percent rise in earnings to $162 million from $134M in the same quarter of 2022. Quarterly revenues jumped to $1.51 billion from $1.24Bln. “The backlog is $10.4 billion, of which $3.0Bln is to be executed in 2023 and $4.3Bln in 2024,” it said. Subsea 7 added that contracts included “notable awards” such as the Sakarya Phase 2A integrated subsea development project in Turkey.