Oct. 26 (Bloomberg) -- AG&P, an engineering services company based in the Philippines, said it won a $152 million contract to provide the “electrical backbone” of the Inpex Corp.-led Ichthys liquefied natural gas project in Australia.
AG&P will build components for Ichthys at its yards south of Manila, using steel from Melbourne-based BlueScope Steel Ltd., and ship the modules to the project site in northern Australia, AG&P Chairman Joseph Sigelman said in an interview. AG&P equipment will enable the LNG project to control power distribution and monitor the progress of the development.
AG&P, which has won about $750 million in contracts since 2011, is seeking more Australian LNG business, Sigelman said yesterday in Sydney. Many of the resources developments in Australia are economically viable only with modular construction, in which the units are shipped to project sites.
“It’s important to think about ways to make these projects more cost competitive,” according to Sigelman.
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