This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

GE To Provide Close To $600 Million In Turbomachinery Equipment For Russia’s Yamal LNG Megaproject

Stocks in this article: GE

GE (NYSE:GE) has received a contract to provide key turbomachinery equipment for the Yamal liquefied natural gas (LNG) “megaproject” that is being developed on the Yamal Peninsula in Russia’s northern Siberia region. The LNG produced at the site will be used to help meet the growing energy needs, primarily of Asia and Pacific Region countries.

The LNG megaproject is owned by JSC Yamal LNG, a joint venture between Russia’s largest independent gas producer OAO Novatek (80 percent) and France’s Total SA (20 percent). The project is being implemented in the Arctic zone of Russia, in the Yamal Peninsula, near Sabetta port. The joint venture is building a gas liquefaction facility that will have a production capacity of 16.5 million tons per year, based on the feedstock resources of the South Tambeyskoye gas condensate field. Proved and probable reserves of natural gas (PRMS) of the South Tambeyskoye field exceed 900 BCM (32 tcf).

Underscoring its leadership in the LNG sector, GE Oil & Gas is supplying Technip (France) and JGC (Japan) consortium, the LNG plant EPC contractor, with critical turbomachinery equipment for three production lines (or ”trains”), each with the capacity to produce about 5.5 million tons of LNG a year. Each train will consist of two main refrigeration units that turn natural gas into a liquid form for transportation. Both refrigeration units will feature:

  • An 86-megawatt (MW) Frame 7E gas turbine.
  • Three main refrigerant centrifugal compressors (two mixed refrigerant and one propane).
  • A 24-MW variable speed drive starter/helper.
  • Waste heat recovery units (WHRUs).
  • Associated auxiliary equipment.

In all, GE will supply six Frame 7E gas turbines, 18 centrifugal compressors, six variable speed drives and six WHRUs. The turbines will be manufactured at GE Power & Water’s plant in Greenville, S.C., and the compressors will be manufactured at GE Oil & Gas’ facility in Florence, Italy. Two complete turbo-compressor systems also will be tested at GE Oil & Gas’ facility in Massa, Italy. Meanwhile, GE Power Conversion facilities in France will supply the variable speed drives. In addition to equipment supplies the contract also covers installation supervision and GE experts support at commissioning stage.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,130.88 +156.57 0.92%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,551.0060 +1.78 0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs