Wah Seong Tipped for LNG Pipe Coating Job
Wah Seong Corp Bhd (RM2.29/share)
Wah Seong Corp Bhd is close to bagging a pipe coating job relating to the Australia Pacific liquefied natural gas (APLNG) project. The company is said to be the front runner in the tender for the APLNG onshore concrete pipe coating contract valued at about RM122.0mil (US$40.0mil), sources said, adding that the project is expected to be given out in the next one to two months.
The entire APLNG project involves the development of the coal seam gas resources in the Surat and Bowen Basins over a 30-year period, a multi-train LNG facility on Curtis Island near Gladstone, Queensland, Australia, and a 450km transmission pipeline.
The project owner, Australia Pacific LNG Pte Ltd (APL), is a joint venture between Australian energy giant Origin Energy Ltd and American multinational energy corporation, ConocoPhillips Co. APL is scheduled to export its first LNG cargo in 2015 to Asian markets. The facility’s first two trains have an annual processing capacity of up to nine million tonnes. – The Edge