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Foster Wheeler gets Russian liquefied natural gas contract

  |   Nov. 4, 2013 at 9:03 AM
ZUG, Switzerland, Nov. 4 (UPI) -- Engineering company Foster Wheeler said Monday it was selected to help with initial developments of a Russian liquefied natural gas project for the Far East.

Foster Wheeler, which has headquarters in Switzerland, said it secured one of two contracts from Russian energy company Rosneft and its U.S. counterpart Exxon Mobil to take on the initial front-end engineering design work for the project.

Rosneft said it aims to build a facility that draws on the natural gas reserves on Sakhalin Island. The plant will be designed to process 5 million tons of LNG per year, officials said.

Rosneft announced in September it chose CB&I UK as a recipient of a front-end engineering and design contract for the LNG project.

"With our initial front-end engineering and design contractors on board now we will see the project begin to take shape in a matter of months," Rosneft President Igor Sechin said in a statement.

The project's final design is expected by the end of 2014. No timeline for construction was offered.

Foster Wheeler said it would disclose the financial terms of the contract in its fourth quarter earnings report.

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