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Fluor to Build New Enagas LNG Terminal on Spain's North Coast.

IRVING, Texas -- Fluor Corporation (NYSE:FLR) announced today that it was awarded a contract for the detailed engineering, procurement services and construction management (EPCM) by Enagas for the new El Musel LNG Terminal along Spain's north coast. Enagas is Spain's top natural gas transportation, regasification and storage company and is the technical manager of the country's gas system. Fluor will be responsible for contracts and materials on the project that are worth approximately $320 million. Fluor booked the entire amount in the first quarter of 2008.

The new facility will be located at the El Musel Commercial Port near the city of Gijon in the province of Asturias. The terminal will include two 150,000 cubic meter LNG tanks along with a regasification send-out capacity of 800,000 normal cubic meters/hour. Additionally, the LNG terminal will provide natural gas to combined-cycle power plants and will help diversify the fuel sources of electricity generation in the region.

"The new Enagas LNG facility is the seventh new terminal in Spain in recent years and it will help achieve the country's goal of having gas reserves of at least 35 days of gas consumption. Fluor is honored that we have been chosen to participate in this important project," said David Seaton, president of Fluor's Energy & Chemicals Group. "This award is a perfect example of how Fluor leverages its global energy experience and executes it locally."

All engineering for the project will be performed from Fluor's Asturias office. Work for the project could require 400 to 500 local workers at construction peak. Groundbreaking is scheduled for early 2008, with construction completion and commissioning expected in 2011.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenue of $16.7 billion in 2007. For more information, visit www.fluor.com.

(FLRG)
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Publication:Business Wire
Date:Apr 29, 2008
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