UAE-based Target Engineering has been awarded a contract to refurbish storage tanks for Abu Dhabi Gas Liquefaction Company (Adgas) at its operations on Das Island, Abu Dhabi, according to sources close to the bidding process.
The engineering, procurement and construction (EPC) contract covers the refurbishment of two existing pentane storage tanks and associated facilities, and building a liquefied natural gas (LNG) loading jetty. Pentane is a by-product of Adgas’ gas processing facilities of Das Island.
Target won the estimated $65m contract ahead of other bidding companies after proposals were submitted in the third quarter of 2012, with Spain’s Intecsa Engineering also vying for the deal. The contract was tendered by Adgas in July 2012.
Target has also submitted a bid for EPC packages one and two on Adgas’ flare-handling and emission-reduction (FHER) project. The contract has yet to be officially awarded.
Adgas, the UAE’s sole LNG exporter, is owned by Abu Dhabi National Oil Company (Adnoc), UK-based BP, France’s Total and Japanese group Mitsui.
The company sells LNG to its sole long-term customer, Tokyo Electric Power Company (Tepco), and through spot deals to Asia, Europe and the US.