ADGAS, Hyundai Heavy sign $1billion deal for Integrated Gas Development project

Abu Dhabi: Abu Dhabi gas Liquefaction Company Ltd. (ADGAS) has signed an agreement for a $1billion project with Hyundai Heavy Industries Co., Ltd. (HHI) for the Engineering, Procurement and Construction (EPC) of the Integrated Gas Development (IGD) Plant on Das Island.

The agreement was signed at ADGAS Abu Dhabi Headquarters on Monday by Fahim Kazim, ADGAS General Manager and Chang June Kang, Hyundai's Senior EVP and COO of Offshore & Engineering Division.

The signing ceremony was attended by Chung Yong-chill, the Korean Ambassador to the UAE and Abdulla Nasser Al Suweidi, ADNOC Deputy CEO.

Members of the senior management team of the two companies have also attended the signing ceremony.

"The project we signed today on behalf of ADNOC is a major milestone which reflects ADGAS new vision and commitment to participate in the country's national energy strategy, within an integrated project that also involves ADMA-OPCO and GASCO," said Fahim Kazim ADGAS General Manager.

"It is a part of the Integrated Gas Development (IGD) Project which is an ambitious and strategic initiative of ADNOC to process and supply the gas to meet the growing needs and development plans of Abu Dhabi. The 49 month project is also one of the world's largest undertakings, involving multiple sites, both offshore and onshore," added Kazim.