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Daewoo and Saipem form LNG alliance

26/11/2019
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With LNG demand expected to reach about 384 million tonnes in 2020, Saipem and Daewoo Engineering & Construction have formed an ‘LNG Alliance’ as they seek to position themselves as the energy infrastructure providers that can tackle the major projects others cannot.
Daewoo and Saipem form LNG alliance
(An LNG Terminal. Image via Wikimedia).

LNG projects are expected to get bigger and bigger – particularly in the leading export nations of Australia, Qatar and USA.  By forming this strategic alliance, Saipem and Daewoo E&C hope to pick up the multi-billion-dollar LNG contracts that relatively few contractors across the world are able to undertake.

The agreement will see the two companies combining their assets and expertise in engineering, procurement and construction for onshore facilities to create the scale and savings that will win them the biggest LNG contracts of the next few years. 

Commenting on the strategic agreement, Maurizio Coratella, Chief Operating Officer of the Saipem Onshore E&C Division, said:

“This strategic agreement with Daewoo will leverage our distinctive competencies in high-end projects, particularly in LNG, and our proven operational experience to support the corporate goals of our customers around the world. Saipem has a historical presence in the LNG sector, a high value-added line, where only qualified operators can work for technological complexity. LNG is strategic for us and we are definitely focusing on it to consolidate our onshore E&C activities and results.”

Kwangho Kim, Chief Operating Officer of the Daewoo E&C Plant Division, commented:

“Through this strategic agreement with Saipem, internationally recognised engineering firm, our superior capability especially in LNG construction has been recognised worldwide and obtained the momentum to enhance its engineering capability. Moreover, Daewoo E&C in joint venture with Saipem has been nominated as a preferred bidder for the EPC of the Nigeria LNG Train 7 last September and Daewood E&C is proud to demonstrate its meaningful entrance into the LNG engineering sector to the market.”

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Tags: Oil & Gas
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Daewoo and Saipem form LNG alliance - Time to read 2 min
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