PARIS, May 27 (UPI) -- French energy services company Technip said it secured a contract to help build a liquefied natural gas terminal in China.
Chinese company Fengzhen Wanjie Gas Co. Ltd. awarded the contract for the engineering and design work at a plant in Inner Mongolia province that will have a capacity to process about 350,000 tons of LNG per year.
"This contract award is another success for us in the growing mid-scale LNG market in China," Technip's regional president, KK Lim, said in a statement Monday.
Asian economies in general are taking up more natural gas to keep up with growing demand. An analysis from Ernst and Young says Chinese demand for natural gas could more than double between 2012 and 2020.
Technip will service the contract from its operations centers in China and Malaysia. The plant should start operations in late 2016.
The French company provided no financial terms for the contract.