Jan De Nul acquires large LNG contract

Jan De Nul Group hereby announces that it has won a major contract for the construction of an export terminal for LNG in Soyo, Angola. The contract involves creating new land at sea as well as dredging an access channel and will be carried out in a joint venture with dredging company Royal Boskalis Westminster nv. The contract is worth approximately € 300 million in which Jan De Nul Group has a 50% share. The work will be completed by the end of 2008.

Two heavy cutters will be used to dredge 26 million m³ of material to construct the access channel. Jan De Nul and Boskalis are key market players with this type of dredging equipment. About 5 million m³ of the dredged material will be used to create 140 hectares of new land on which the LNG terminal will be built. In addition, two medium-sized hoppers will be used to reclaim 2 million m³ of sand from the sea for the new land.

This project in Angola is one of a series of large-scale LNG projects on the global maritime infrastructure market. The market is driven by long-term factors, such as increases in the global population, the growth of the global economy and international  trade volumes and the developments on the energy markets.