Press release issued by Boskalis
Royal Boskalis Westminster N.V. (Boskalis) announces that its associated company Smit Lamnalco has been awarded a 10-year contract with additional extension options by Esso Highland (a subsidiary of ExxonMobil) for providing terminal services at the Papua New Guinea liquefied natural gas (PNG LNG) export terminal near Port Moresby. The total contract value is USD 120 million (Boskalis share USD 60 million) and services will commence mid-2014.
The PNG LNG export terminal is part of a larger integrated LNG production, processing and liquefaction project which started following the discovery of three major gas field in Papua New Guinea. Both the offshore and onshore infrastructure is currently under construction and expected to be operational in 2014. Smit Lamnalco will provide towage and marine support services for LNG vessels at the terminal for which it will invest in 4 new 65 ton bollard pull tugboats.
The signing of this contract reflects the strength of Smit Lamnalco as a leading provider of terminal services and its success in offering high quality services at competitive terms. With the development of numerous large scale commodity export facilities in Australasia, Smit Lamnalco intends to further expand its global offering of terminal services.
Boskalis’ strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project is closely related to the increasing energy consumption for which Boskalis facilitates the global transport of oil and natural gas by providing maritime and terminal services through Smit Lamnalco.