Foster Wheeler Awarded Contract by GDF SUEZ for Cameroon LNG Project

27/06/2010


ZUG, Switzerland, Jun 28, 2010 (BUSINESS WIRE) -- Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a contract by GDF SUEZ to carry out the pre-front-end engineering design (pre-FEED) for the development of an onshore LNG plantand offshore gas gathering infrastructure. The project seeks to establish a national gas transportation network linking Cameroon's offshore gas resources with the State-sanctioned onshore sitenear Kribi on the southern coastline of Cameroon. Foster Wheeler is working with GDF SUEZ and GDF SUEZ's partner, Cameroon's Société Nationale des Hydrocarbures (SNH).

The Cameroon LNG project involves a single-train onshore LNG plant with a production capacity of up to 3.5 million tons per annum. The project also includes an upstream gas gathering system and subseapipeline tie-ins to offshore production facilities.In carrying out the pre-FEED for the entire mid-stream project, Foster Wheeler will develop the preliminary design basis for the liquefaction facility, gas gathering and treatment facilities and LNG export facilities, and will prepare capital cost estimates and other documentation. The pre-FEED is scheduled to be completed in early 2011.

"We look forward to building a strong and long-lasting relationship with GDF SUEZ and its partner SNH in executing the Cameroon LNG Project. We have delivered a winning combination for the pre-FEED, bringing together our expertise and experience in LNG liquefaction, the subsea and pipelines expertise of our Upstream team, and our proven track record of delivering large, technically complex projects in challenging locations," said Umberto della Sala, president and chief operating officer, Foster Wheeler AG.

The Foster Wheeler contract value for this project was not disclosed and will be included in the company's second-quarter 2010 bookings.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 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, 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 office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com/.

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SOURCE: Foster Wheeler AG

Foster Wheeler AG
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