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Saipem, CTCI ink $925M deal to design and build LNG terminal in Thailand

PTT LNG Co. Ltd., a subsidiary of PTT PCL, has awarded an engineering and construction contract worth approximately $925 million to a joint venture between Saipem SpA and CTCI Corp., according to a June 7 press release.

The works include the engineering, procurement, construction and commissioning of the Nong Fab terminal, with a maximum receiving capacity of 9 million metric tons per annum, for the receipt, storage and regasification of LNG.

Saipem will operate as the leader of the venture with a stake of 55% and a share of around $500 million. The project will be located in southeast Thailand's Mueang Rayong district.