TGE Gas Engineering GmbH (Bonn, German) and China Chengda Engineering Co. Ltd (Beijing) have won the engineering, procurement and construction bid for the Zhejiang LNG terminal project. The final value of the contract will be in the range of USD 175 million to 205 million and will be fulfilled within 60 months of the start date. The LNG terminal project is located in Ningbo in China’s Zhejiang province. The project will be funded and operated by CNOOC Zhejiang Ningbo LNG Co. Ltd (Ningbo). In case TGE fails to perform the contract, the parent company will face penalties of about USD 205 million, according to CIMC.
