SAMSUNG HEAVY TO BUILD OFFSHORE GAS PLANT IN AUST 247 words 14 February 2012 Asia Pulse APULSE English

(c) 2012 Asia Pulse Pty Limited DARWIN, Feb 14 Asia Pulse - A South Korean firm has been has awarded the contract to build a huge processing plant offshore from Western Australia for the $US34 billion ($A31.78 billion) Ichthys gas project. Samsung Heavy Industries will build the facility, about the size of a cricket ground, which will extract sea water from the natural gas and divide away the condensate, a type of light oil. After processing at the plant the gas will be pumped about 890 kilometres from the Ichthys field offshore from Western Australia to Blaydin Point in Darwin to be converted into liquefied natural gas (LNG). The condensate will be transferred to a floating storage area where most will then be loaded onto boats and exported. The $US2.71 billion ($A2.53 billion) contract awarded to Samsung is not the largest contract so far connected with the Ichthys project, which is a collaboration by Japan's Inpex Corp (TSE:1605) Corporation and French company Total SA. A contract to build the $US15 billion onshore plant was recently awarded to a partnership of JGC Corporation, Kellogg Brown and Root, and Chiyoda Corporation. The Ichthys project is expected to pump billions into the Northern Territory's economy during the next 40 years. It will require about 2700 workers during peak construction, with 300 jobs ongoing once it is operational. First gas exports from the project are expected to commence in late 2016. AAP ry Document APULSE0020120214e82e000xu

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