Petrofac wins TurkStream EPC contract with Gazprom
(ShareCast News) - Petrofac has won a €340m contract with gas behemoth Gazprom to help build onshore pipelines and a gas receiving terminal in Turkey that will be connected to Anapara on the far Russian coast.
The FTSE 250 company, which is being investigated by the UK's Serious Fraud Office over potential bribery and money laundering, will carry out engineering, procurement and construction work for Gazprom's South Stream Transport subsidiary.
Since April, Petrofac's engineering, procurement and construction management business has been undertaking early works for the project, including front end engineering design verification, design and procurement.
The receiving terminal is due to be ready for commercial operations in December 2019, when it will receive 31.5bn cubic metres of gas annually from the TurkStream pipeline originating from the compressor station in Anapa, Russia.
Roberto Bertocco, managing director of EPCM for Petrofac Engineering and Production Services, said: "We're delighted to be working with South Stream Transport to help open up a vital gas export channel to Turkey and Southeast Europe.
"We have been working collaboratively and successfully with our client's team for the past five months to establish the project. We now look forward to progressing to the next phase where our focus is on achieving safe and effective delivery in line with South Stream Transport's goals and expectations."