Giant engineering and building contracts for liquefied pure fuel (LNG) tasks pushed the entire worth of contracts within the oil and fuel trade surging to US$42 billion within the second quarter of 2019, up by an enormous 79 % over the worth of the contracts within the first quarter, knowledge and analytics firm GlobalData stated in a new report out this week.
Within the first quarter of this yr, the worth of the contracts within the international oil and fuel sector stood at US$23.four billion, in accordance with GlobalData’s estimates. Within the second quarter, a number of engineering, procurement and building (EPC) contracts for LNG tasks practically doubled the contract worth tally.
A number of the largest contracts included Bechtel’s US$9.57-billion settlement with NextDecade for the Rio Grande LNG challenge in Texas, and a three way partnership between McDermott, Saipem, and Chiyoda signing an US$8-billion contract with Anadarko Petroleum for the event of Mozambique Space 1 LNG, GlobalData stated.
“Pending the achievement of additional industrial milestones and receipt of ultimate regulatory…