Mubadala and IPIC review Emirates LNG EPC tenders
The Abu Dhabi Sovereign funds Mubadala Petroleum (Mubadala) and the International Petroleum Investment Company (IPIC) are currently reviewing the tenders submitted by the qualified bidders for the engineering, procurement and construction (EPC) contracts to be awarded for the Emirates LNG Terminal and Regasification project on the coast of Fujairah on the northeast of the United Arab Emirates (UAE).
As the main supply is coming from the neighboring Gulf countries, the UAE are keen to diversify their sources out of the global gas markets, especially Asia-Pacific and East Coast of Africa.
In that respect the Fujairah Emirates offers a strategic location along the Gulf of Oman opening direct access on the Indian Ocean .
This position allows Mubadala and IPIC to consider Fujairah as the best place to build the Emirates LNG Terminal and Regasification project as it prevents the LNG carriers to come across the sensitive Strait of Hormuz.
Originally planned to be developed in two phases whereas Mubadala and IPIC should have first moored floating storage and regasification units (FSRU) units and then expanded this near-shore terminal with landed-base storage facilities.
Emirates LNG to award Fujariah Terminal EPCs in 2015
While rethinking Fujairah Emirates LNG project concept, Mubadala and IPIC maintained the capacity of the regasification to 9 million tonnes per day (t/d) of liquefied natural gas (LNG) that should deliver 1.2 million cubic feet per day (cf/d) of natural gas to the UAE.
– EPC-2, the storage tanks and associated facilities
Three engineering companies are bidding on the first package for the regasification plant with an estimated budget of $900 million capital expenditure.
Four competitors submitted a technical offer for the second package covering four storage tanks of 200,000 cubic meter of natural gas.
These companies are expected to submit their commercial offers by the end of year.