Foster Wheeler Wins Gassco Contracts for Zeebrugge and Dunkerque Terminals


ZUG, SWITZERLAND, July 29, 2009 -- Foster Wheeler AG (Nasdaq: FWLT) announced that its UK-headquartered subsidiary, Foster Wheeler Energy Limited, part of its Global Engineering and Construction Group, has been awarded an engineering, procurement and construction (EPC) contract by Gassco AS for the implementation of the blow-down system modification at Gassco’s Zeebrugge Terminal, Belgium. Foster Wheeler has also been awarded the concept development and pre-engineering of the blow-down system at Gassco’s Dunkerque Terminal in France following its successful completion of the study phase.

A blow-down system is used to safely depressurize the process areas of a gas terminal in the event of an emergency.

The Foster Wheeler contract values for both projects were not disclosed and will be included in the company’s second-quarter 2009 bookings.

The EPC work at Zeebrugge will be executed by Foster Wheeler’s Teesside operation at Middlesbrough in the UK. Foster Wheeler’s specialist Upstream Oil & Gas Division in Reading, UK, earlier completed a study for Zeebrugge to review the blow-down system and to recommend options to reduce the risk of escalation in the inlet and process areas in the event of a fire, which study was followed by a pre-engineering contract. Completion of the project is expected toward the end of 2010.

The concept development and pre-engineering work for Dunkerque will involve further development of the proposed solution, identified in the completed study, to optimise the blow-down system to meet venting time recommendations for the fire-affected areas. This work will support Gassco in seeking approval to proceed with project implementation.

-These two awards from Gassco offer us an opportunity to build on our excellent working relationship with Gassco at both terminals, and demonstrate the added value, high quality and innovation delivered by our specialist upstream team in developing technically viable and cost-effective solutions to meet our clients’ objectives,” said Michael J. Beaumont, chairman and chief executive officer of Foster Wheeler Energy Limited.

Jan Deckmyn, HES&Q Manager, Gassco AS, commented, -Safety is the top priority for Gassco at its Zeebrugge and Dunkerque terminals. The work being performed by Foster Wheeler at these terminals will ensure that Gassco meets its objectives of safety improvement and compliance with all safety rules and regulations at these two locations.”

Gassco, a Norwegian state-owned company, is responsible for the transportation of all gas from the Norwegian Continental Shelf to Europe through its Zeebrugge and Dunkerque terminals. These terminals remove residual liquids and solids from the gas, regulate its pressure and temperature, and meter volume and quality before onward transmission to downstream users.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, carbon capture, chemicals and petrochemicals, power, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at

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Foster Wheeler AG
United States
Maureen Bingert, 908-730-4444
United Kingdom
Anne Chong, +44 (0)118 913 2106
Investor Relations
Scott Lamb, 908-730-4155
Other Inquiries: 908-730-4000

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