PARIS–(BUSINESS WIRE)–Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded by TAP(1) a Project Management Consultancy (PMC) Services contract, for a project designed to transport gas from the Shah Deniz field to the European market.
TAP project scope includes an approximately 870 kilometer long pipeline, which will start from the tie-in with the TANAP(2) portion of the Southern Gas Corridor project, at the Greece/Turkey border. The pipeline will then go through Greece and Albania, to eventually cross subsea the Adriatic Sea to end in Puglia, Italy, where it will connect to the Italian natural gas network.
The project aims at enhancing security of supply as well as diversifying gas resources in the European market. TAP will open a new route for natural gas from the Caspian Sea region. It is designed to transport 10 BCM/y(3) with a potential future expansion to 20 BCM/y, as more gas becomes available.
The PMC contract awarded to Technip will cover the onshore portion of the pipeline from Greece to Albania and in Italy. The services will include the overall project and site management, procurement and subcontracting for all the EPC packages throughout the engineering, procurement and construction phases, as well as warranty management and the project close-out. The project completion is scheduled for the first quarter of 2020.
The services will be mainly performed at TAP’s headquarters in Baar, Switzerland, and Technip’s office in Rome, Italy. Other project centres will be operating in Greece, Albania and Italy.
Riccardo Moizo, Senior Vice President of Technip PMC, stated: “This contract is an important milestone for Technip PMC. With this award, Technip will be able to reaffirm its strong project management capabilities, through the execution of a very prestigious project.”
Marco Villa, President of Technip Region B(4), commented: “We are excited to have been awarded this important project by TAP. This contract reflects TAP’s trust in our capabilities in delivering a key project for them.”
Technip will leverage its world class expertise and high performance standards in project management of complex international projects to help TAP to deliver its project successfully.
(1)TAP is a joint-venture between BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%)
(2)Trans-Anatolian Gas Pipeline
(3)BCM/y: billion cubic meter per year
(4)Technip Region B is composed of Italy, Greece, Eastern Europe/Russia, South America, Canada Onshore and Middle East Onshore-Offshore.
About Technip PMC:
- Technip PMC is an organization with a management team dedicated and focused on the provision of PMC services to deliver projects worldwide.
- It helps clients to achieve their investment objectives and deliver their projects, by offering Project Management Consultancy (PMC) services from the definition to the operational phases.
- Technip is a project management specialist, having carried out some of the world’s most complex EPC projects. From the technology and licensor selection phase to the management of multinational consortia in the execution and successful delivery of world-scale, lump-sum turnkey projects, Technip has not only developed efficient processes, procedures and tools, but also operational and effective project management skills at all levels.
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Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 38,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).
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