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Released November 07, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--SNC Lavalin Constructors Incorporated (TSX:SNC) (Montreal, Quebec), one of the top five engineering, procurement and construction (EPC) firms globally, outperformed its own expectations in third-quarter 2018, fueled by greater-than-normal bookings in its oil, natural gas and clean-energy businesses. Industrial Info is tracking more than $104 billion in active projects worldwide involving SNC Lavalin, including more than $3.5 billion worth in the U.S.
Click on the image at right for a graph detailing SNC Lavalin projects in the U.S., by industrial sector.
SNC Lavalin is playing a significant role in a slew of natural gas-related projects across the U.S., including Public Service Enterprise Group Incorporated's (NYSE:PEG) (Newark, New Jersey) $550 million unit addition at the Harbor Power Station in Bridgeport, Connecticut. The project, which has been under construction since mid-2016, comprises a combustion turbine and steam turbine, both supplied by General Electric (NYSE:GE) (Boston, Massachusetts), that will generate 485 megawatts (MW) following its projected completion next summer. For more information, see Industrial Info's project report.
NW Natural (NYSE:NWN), the public utility for Portland, Oregon, has SNC Lavalin as EPC contractor on its $45 million North Mist Natural Gas Pipeline expansion project near Clatskanie, Oregon. The project involves installing 13 miles of line to transport up to 120 million standard cubic feet per day of natural gas from a connection with PG&E Corporation's (NYSE:PCG) (San Francisco, California) gas-fired power plant to Clatskanie, where it will be supported by NW Natural's $30 million compressor station. Both the pipeline and the station are set to be completed next spring. For more information, see Industrial Info's project reports on the pipeline and compressor station.
SNC Lavalin is serving as technology provider for Producers Midstream LP's (Dallas, Texas) $200 million Maverick Cryogenic Natural Gas Processing Plant in Pecos, Texas, which is nearing completion. The facility will process 260 million standard cubic feet per day of natural gas in the western Delaware Basin. For more information, see Industrial Info's project report.
"Our Oil & Gas sector had a really good quarter," said Neil Bruce, the chief executive officer of SNC Lavalin, in a quarterly earnings-related conference call. "We are continuing to see positive market-segment sentiment due to good fundamentals across the service chain for the upstream, midstream and downstream services. Customers are increasingly optimistic, driving strong demand for oil and gas services that are expected to be booked in the next nine to 12 months. We are also observing signs of recovery in [industry] capital spending, especially in upstream and LNG."
Also in Texas, INEOS Olefins & Polymers USA (League City, Texas), a division of INEOS Group AG (London, England), earlier this year awarded SNC Lavalin and joint-venture partner JV Driver (Pasadena, Texas) the EPC contract for a $150 million unit addition at its petrochemical complex in Chocolate Bayou, Texas. The single-train unit will produce about 120,000 tons per year of low-viscosity polyalphaolefins (PAO). For more information, see Industrial Info's project report.
SNC Lavalin also would provide EPC services for an ambitious renewable-energy project that has been proposed for Big Sky Country: Absaroka Energy LLC's (Bozeman, Montana) estimated $950 million Gordon Butte Hydro Pumped Storage in Martinsdale, Montana. The closed-loop, pumped-storage power plant would generate 400 MW from three GE/Alstom ternary hydro turbines and a pair of reservoirs. The project is in its early planning phases; if approved, it would not begin construction until mid-2021, at the earliest. For more information, see Industrial Info's project report.
Industrial Info also is tracking nearly $57.5 billion worth of projects involving SNC Lavalin in its home country of Canada, including two massive hydropower projects, both under construction: BC Hydro & Power Authority's (Vancouver, British Columbia) $8.5 billion Site C Clean Energy Project in Fort Saint John, British Columbia, which is expected to generate 1,100 MW, and Nalcor Energy's (St. John's) $7 billion Muskrat Falls Hydro Station in Churchill Falls, Newfoundland and Labrador, which is expected to generate 836 MW. For more information, see Industrial Info's reports on the Site C and Muskrat Falls projects.
SNC Lavalin's third-quarter net income was reported to be C$120.7 million (US$91.91 million), a 16.6% increase from the third quarter of 2017. Its work backlog stood at C$15.16 billion (US$11.54 billion), a 33.7% increase from the same period last year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing SNC Lavalin projects in the U.S., by industrial sector.SNC Lavalin is playing a significant role in a slew of natural gas-related projects across the U.S., including Public Service Enterprise Group Incorporated's (NYSE:PEG) (Newark, New Jersey) $550 million unit addition at the Harbor Power Station in Bridgeport, Connecticut. The project, which has been under construction since mid-2016, comprises a combustion turbine and steam turbine, both supplied by General Electric (NYSE:GE) (Boston, Massachusetts), that will generate 485 megawatts (MW) following its projected completion next summer. For more information, see Industrial Info's project report.
NW Natural (NYSE:NWN), the public utility for Portland, Oregon, has SNC Lavalin as EPC contractor on its $45 million North Mist Natural Gas Pipeline expansion project near Clatskanie, Oregon. The project involves installing 13 miles of line to transport up to 120 million standard cubic feet per day of natural gas from a connection with PG&E Corporation's (NYSE:PCG) (San Francisco, California) gas-fired power plant to Clatskanie, where it will be supported by NW Natural's $30 million compressor station. Both the pipeline and the station are set to be completed next spring. For more information, see Industrial Info's project reports on the pipeline and compressor station.
SNC Lavalin is serving as technology provider for Producers Midstream LP's (Dallas, Texas) $200 million Maverick Cryogenic Natural Gas Processing Plant in Pecos, Texas, which is nearing completion. The facility will process 260 million standard cubic feet per day of natural gas in the western Delaware Basin. For more information, see Industrial Info's project report.
"Our Oil & Gas sector had a really good quarter," said Neil Bruce, the chief executive officer of SNC Lavalin, in a quarterly earnings-related conference call. "We are continuing to see positive market-segment sentiment due to good fundamentals across the service chain for the upstream, midstream and downstream services. Customers are increasingly optimistic, driving strong demand for oil and gas services that are expected to be booked in the next nine to 12 months. We are also observing signs of recovery in [industry] capital spending, especially in upstream and LNG."
Also in Texas, INEOS Olefins & Polymers USA (League City, Texas), a division of INEOS Group AG (London, England), earlier this year awarded SNC Lavalin and joint-venture partner JV Driver (Pasadena, Texas) the EPC contract for a $150 million unit addition at its petrochemical complex in Chocolate Bayou, Texas. The single-train unit will produce about 120,000 tons per year of low-viscosity polyalphaolefins (PAO). For more information, see Industrial Info's project report.
SNC Lavalin also would provide EPC services for an ambitious renewable-energy project that has been proposed for Big Sky Country: Absaroka Energy LLC's (Bozeman, Montana) estimated $950 million Gordon Butte Hydro Pumped Storage in Martinsdale, Montana. The closed-loop, pumped-storage power plant would generate 400 MW from three GE/Alstom ternary hydro turbines and a pair of reservoirs. The project is in its early planning phases; if approved, it would not begin construction until mid-2021, at the earliest. For more information, see Industrial Info's project report.
Industrial Info also is tracking nearly $57.5 billion worth of projects involving SNC Lavalin in its home country of Canada, including two massive hydropower projects, both under construction: BC Hydro & Power Authority's (Vancouver, British Columbia) $8.5 billion Site C Clean Energy Project in Fort Saint John, British Columbia, which is expected to generate 1,100 MW, and Nalcor Energy's (St. John's) $7 billion Muskrat Falls Hydro Station in Churchill Falls, Newfoundland and Labrador, which is expected to generate 836 MW. For more information, see Industrial Info's reports on the Site C and Muskrat Falls projects.
SNC Lavalin's third-quarter net income was reported to be C$120.7 million (US$91.91 million), a 16.6% increase from the third quarter of 2017. Its work backlog stood at C$15.16 billion (US$11.54 billion), a 33.7% increase from the same period last year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
