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WORLEY LIMITED — Capital/Financing Update 2014
May 20, 2014
66073_rns_2014-05-20_1af0c155-63d4-407b-bff3-841689029b42.pdf
Capital/Financing Update
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Level 12, 141 Walker Street North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 worleyparsons.com WorleyParsons Limited ABN 17 096 090 158
21 May 2014
ASX Release
WORLEYPARSONS LIMITED
(ASX: WOR)
WorleyParsons Awarded FEED & Project Execution Services Contract for LNG Canada Project in British Columbia
WorelyParsons is pleased to announce that WorelyParsons Canada Services Ltd., in joint venture with affiliates of Chiyoda Corporation, Foster Wheeler AG and Saipem S.p.A (“CFSW JV”), has been awarded a contract by LNG Canada Development Inc. (“LNG Canada”) for the provision of front-end engineering design (“FEED”) and project execution services for a proposed liquefied natural gas (LNG) export project, known as the LNG Canada Project, in Kitimat, British Columbia.
The LNG Canada Project is planned as a phased development initially comprising two processing trains, each with a production capacity of approximately 6 million tonnes per annum of LNG, with an opportunity for an additional two trains. The release to proceed with the project execution phase is subject to regulatory approvals and a financial investment decision by LNG Canada, a milestone still a couple of years away.
“We are pleased to be working with Chiyoda, Foster Wheeler, SAIPEM and WorleyParsons, a group of companies who together have extensive experience in the liquefied natural gas industry” said Andy Calitz, CEO, LNG Canada. "LNG Canada’s vision is to work collaboratively with First Nations, the local community and other stakeholders, to deliver a project that is safe, reliable and reflective of community interests and I look forward to us working together to deliver this project’s expected benefits to the surrounding communities and all British Columbians."
LNG Canada is comprised of Shell Canada Energy (50%), an affiliate of Royal Dutch Shell plc, and affiliates of PetroChina (20%), Korea Gas Corporation (15%) and Mitsubishi Corporation (15%). This operating entity is incorporated and registered under the federal laws of Canada.
“WorleyParsons is delighted to be a part of this signature energy project for Canada’s west coast,” says Andrew Wood, Chief Executive Officer of WorleyParsons. “Securing this important contract reinforces WorleyParsons’ position as a significant participant in the global LNG business.”
For further information please contact:
Analysts & Investors Fran van Reyk Investor Relations Ph: +61 2 8456 7256 [email protected]
Media
Geoff Fowlstone Fowlstone Communications Ph: +61 2 9955 9899 Mob: +61 413 746 949 [email protected]