Honghua inks LNG platform construction HOA

Honghua Group, the land drilling rig manufacturer, signed an offshore LNG platform construction heads of agreement with Argo LNG Partners, priced at approximately US$1.8 billion. 

The agreement was signed through Honghua Group’s unit, Shanghai Honghua Offshore Oil and Gas Equipment, according to the company’s statement on Monday.

Argo LNG Partners is a project company based in Houston, Texas, formed by a group of oil and gas industry experts. According to the company’s website, it intends to build an offshore LNG liquefaction unit in the Gulf of Mexico.

The first LNG platform will be delivered following modular construction, installation and debugging under the EPC model in the Honghua Offshore factory.

During the two to three years construction period, four production platforms will be built, together with four storage platforms, one accommodation platform, one central processing platform, and a pier capable of receiving LNG carriers with 30,000 to 260,000 cubic meters capacity.

The designed production capacity is 3.6 million tons per year of LNG, while the storage platform will have the capacity to hold 240,000-cbm.

LNG World News Staff