Spain's Tecnicas Reunidas Bags $700 Million Abu Dhabi Gas Project

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Abu Dhabi Gas Industries Limited (GASCO) (Abu Dhabi, United Arab Emirates) has awarded Tecnicas Reunidas (OTC:TNISY) (TR) (Madrid, Spain) a $700 million contract for a natural gas project.

The scope of the contract covers Package 3 of GASCO's integrated gas development expansion project, which targets production of 400 million cubic feet (MMcf) of additional gas from its offshore fields to alleviate the emirate's rising gas shortage. The contract includes a number of gas-processing units, gas pipelines, condensate pipelines and all required interconnections.

Under the terms of the contract, TR will conduct the engineering, procurement, construction, installation and commissioning of the Shah Gas Gathering Center.

The projects extends TR's involvement in the $10 billion Shah project, which to date has been the source of a number of contracts for international companies.

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