Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Bechtel Oil, Gas and Chemicals, Inc. (Bechtel) have entered into four fixed price, lump sum turnkey agreements totaling $15.2 billion for the engineering, procurement and construction (EPC) of Driftwood LNG
That enterprise agreements like the one with Bechtel are good for business is an understatement. The announcement for the original Aconex/Bechtel user based enterprise agreement reads, in part:
"Under the agreement,
new Bechtel projects will be implemented on the Aconex platform as part of a multi-year plan to replace Bechtel’s internal document and record management system with project-wide collaboration.
The terms of the agreement are user-based, providing flexibility for Bechtel to add an unlimited number of platform users to its projects over time.
“Our agreement with Aconex is an example of Bechtel bringing its strategy of innovation and customer focus to all of our internal systems,” said Bechtel Chief Information Officer Carol Zierhoffer.
“By transitioning to a comprehensive platform that our customers often use themselves, we increase the ability to collaborate throughout project implementation and expand upon the product Bechtel ultimately delivers.”
https://www.aconex.com/news/press-release/bechtel-signs-enterprise-agreement-aconex-software
@Just_a_guy , this might up the ticker rate just a tad:
Tellurian signs agreements with Bechtel to deliver Driftwood LNG at ~ $550 per tonne
11/13/2017
$US15.2 bn Driftwood LNG Project
HOUSTON, TX--(Marketwired - November 13, 2017) - Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Bechtel Oil, Gas and Chemicals, Inc. (Bechtel) have entered into four fixed price, lump sum turnkey agreements totaling $15.2 billion for the engineering, procurement and construction (EPC) of Driftwood LNG, a liquefied natural gas (LNG) export facility proposed near Lake Charles, Louisiana. Driftwood LNG includes:
- Twenty liquefaction units, each expected to produce up to 1.38 million tonnes per annum (mtpa) of LNG;
- Liquefaction technology from Chart Industries' proprietary Integrated Pre-cooled Single Mixed Refrigerant (IPSMR®) process;
- Twenty GE refrigeration compressors, each driven by GE aero derivative natural gas turbines;
- Three 235,000 cubic meter, full containment LNG storage tanks; and
- Three marine loading berths.
Driftwood LNG will be constructed in four phases, with each phase beginning operations on a staggered basis:
- Phase 1: Up to 11 mtpa of LNG from 8 units, storage tanks 1 & 2, loading berth 1 and related utilities
- Phase 2: Up to 5.5 mtpa of LNG from 4 units, loading berth 2 and related utilities
- Phase 3: Up to 5.5 mtpa of LNG from 4 units, storage tank 3, loading berth 3 and related utilities
- Phase 4: Up to 5.5 mtpa of LNG from 4 units and related utilities
President and CEO Meg Gentle said, "The agreements with Bechtel guarantee performance and secure the EPC cost of Driftwood LNG at $550 per tonne, one of the lowest-cost liquefaction construction projects worldwide.
Execution of the lump sum, turnkey EPC agreements concludes 18 months of open collaboration among Bechtel, Chart Industries, GE and Tellurian. We have worked as a team to reduce construction costs and improve operating reliability and efficiency.
Bechtel is a global leader in engineering, procurement and construction of LNG facilities, having delivered 42 LNG trains on 17 projects in 10 countries.
Today, production on Bechtel-built facilities accounts for 30% of global LNG capacity. We are proud to work together on the next generation of U.S. LNG exports."
http://www.power-eng.com/marketwire...o-deliver-driftwood-lng-at-550-per-tonne.html
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This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.
