Hyundai Heavy Industries Wins Over $2 Billion Order For Gorgon LNG Project In Australia

Published: 21-Oct-2009

Hyundai Heavy Industries Co., Ltd. (Hyundai Heavy Industries) has announced its success in the bid for module fabrication for the Barrow Island LNG plant of the Gorgon Project. The bid for Gorgon project was originally made on February 2009 and consists of 48 modules weighing around 190,000 tons, and contract price is more than $2 billion. The contract is effective upon signing of the contract on October 21, 2009 and delivery of modules will be made 2012-2013.

The Gorgon project, operated by the Australian subsidiary of Chevron Corporation (50%) in joint venture with Australian subsidiaries of Exxon Mobil Corporation (25%) and Royal Dutch Shell Plc (25%), is currently estimated to cost AUD43 billion ($37 billion) for the first phase of development. First gas is planned for 2014.

The Gorgon project’s scope includes a three-train, 15 million-metric-tonne-per-annum LNG facility and a domestic gas plant.

Hyundai Heavy Industries has expressed its appreciation for Chevron’s evaluation of its capacity and capabilities, and said it is committed to successfully complete and deliver the project as planned.

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