KBR Joint Venture to build Yemen's first LNG Plant

Yemen LNG (YLNG) Company Ltd. has awarded KBR and its joint venture partners, Technip of France and JGC Corporation of Japan, a lump-sum turnkey contract valued at more than $2 billion to provide engineering, procurement, construction, pre-commissioning, commissioning, start-up and operations services for the country's first liquefied natural gas plant.

Consisting of two liquefaction trains with a combined capacity of 6.7 million tons per year, the LNG plant will be located in the port of Balhaf on the southern coast of Yemen. The target for start-up of Train 1 is the end of 2008, with Train 2 due to come on-line approximately five months later.

"KBR is excited to be part of this unique project for Yemen, which will provide an opportunity to create local jobs in addition to monetizing the country's natural gas resources," said Andy Lane, executive vice president and chief operating officer, Halliburton. "With unparalleled expertise in successfully executing complex projects in some of the world's most challenging environments, KBR is the perfect contractor to build this historic grassroots LNG plant."

The shareholders of the YLNG Company are Total (42.90%), Yemen Gas Company (23.10%), Hunt Oil Company (18%) and two Korean companies, SK Corporation (10%) and Hyundai Corporation (6%).

"We are proud to play such a crucial role in the monetization of Yemen's natural gas," added Lou Pucher, senior vice president, KBR Energy and Chemicals. "The execution of such a large-scale project by three of the world's largest engineering and construction companies will also contribute significantly to economic growth in the region."

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Posted 08/09/05

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