Daewoo Engineering & Construction of South Korea and Italian energy infrastructure contractor Saipem have signed a strategic partnership to work together in the rapidly expanding LNG market.
The aim is to win multi-billion dollar LNG projects that relatively few contractors around the world are able to undertake.
Under the agreement, announced on 12 November but signed last month, the two companies will pool technologies and assets to win more orders in the onshore oil and gas sector.
Maurizio Coratella, chief operating officer of Saipem’s Onshore Division, commented: "This strategic agreement will leverage our competencies in high-end projects, particularly in LNG, and our proven operational experience to support the corporate goals of our customers around the world.
"Saipem has a historical presence in the LNG sector, a high value-added line, where only qualified operators can work for technological complexity. LNG is strategic for us and we are definitively focusing on it to consolidate our onshore E&C activities and results."
Kwangho Kim, his counterpart at Daewoo’s Plant Division, added that the two had already formed a joint venture to work on a new train for a Nigeria LNG, along with Japan’s LNG specialist Chiyoda.
Image: Nigeria LNG’s Bonny Island plant (KBR)
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