Yesterday Shell signed two contracts with the Technip and Samsung Heavy Industries consortium for the Prelude floating liquefied natural gas (LNG) project off the coast of Western Australia.
These contracts formalize the announcement made by Shell in October 2009 that Prelude is in the engineering and design phase of development.
Planning for Prelude is progressing well.
Yesterday's signing follows a July 2009 master agreement between Shell and the Technip-Samsung consortium to work on the design, construction and installation of multiple floating LNG facilities over a period of up to 15 years. The floating design will allow Shell to place gas liquefaction facilities directly over offshore gas fields, precluding the need for long-distance pipelines and extensive onshore infrastructure. This provides a commercially attractive approach for developing offshore fields.
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