Bouygues Offshore: A New Contract of EUR 28 Million for Technigaz in Spain.Business Editors MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Dec. 10, 2001 Technigaz, a wholly-owned subsidiary of Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) ) (BOURSE:BOS.), has announced that it will build a Liquefied Natural Gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG LNG (liquefied natural gas): see under natural gas. ) tank in Palos de Frontera, Spain under a contract awarded by ENAGAS. This contract, for a total amount of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 40 million (Bouygues Offshore's share: EUR 28 million) will be performed by a Joint-Venture of Technigaz (70%) and Initec (30%). The customer, ENAGAS, is the only LNG importer in Spain so far. This turnkey contract covers Engineering, Procurement, Construction and pre-commissioning of a full-containment storage tank for the extension of the LNG import terminal located in Huelva harbor on the Atlantic Ocean. The inner tank will be made of 9% nickel steel with perlite perlite or pearlstone Natural glass with concentric cracks such that the rock breaks into small, pearl-like bodies. It is formed by the rapid cooling of viscous lava or magma. insulation to maintain the LNG at a temperature of -163(degree)C, while the outer tank will be made of prestressed concrete. The full-containment tank has a storage capacity of 150,000m3. Delivery is scheduled for the end of the fourth quarter 2004. Commenting on this contract, Herve Le Bouc, Chairman of Bouygues Offshore stated: "The award of this contract, just two months after the contract for the two LNG tanks in Egypt and one year after the contract for the Bilbao LNG import terminal in Spain, illustrates the renewed vitality of the LNG market and confirms Technigaz's position as leader in turnkey LNG storage tank A LNG storage tank (Liquified Natural Gas) is a specialized type of storage tank used for the storage of Liquified Natural Gas. LNG Storage Tanks can be found in ground, above ground or in LNG carriers. and terminals construction. Moreover, this new contract reinforces the Company's future in Spain, a high potential country in the import of LNG." From design engineering to start-up and maintenance, Bouygues Offshore provides its customers with turnkey projects in offshore-onshore oil and gas contracting, liquefied gases, maritime and river works and chemicals-refining/energy-industry. Driven by a strong commitment to the energy industry, an on-the-spot presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company. Further information on the company can be found on line at www.bouygues-offshore.com. |
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