Boskalis joint venture awarded Nord Stream 2 rock placement LOI
13 July 2017 - 4:30PM
Papendrecht, 13 July 2017
Royal Boskalis Westminster N.V. (Boskalis) has
been awarded a LoI (Letter of Intent) in joint venture with Van
Oord for rock placement services for the Nord Stream 2
project. The award was made by the project developer Nord Stream 2
AG and is a part of the construction of the planned twin 1,200
kilometer gas pipelines running through the Baltic Sea, connecting
Russia to Europe. The contract value is approximately EUR 250
million, with a 50% share for Boskalis. Contract details are
expected to be finalized in the next few weeks.
Rock needs to be installed at specific locations
along the pipeline route to level the seabed and to protect the
pipelines. The contract scope includes the sourcing of rock from
quarries in the Baltic region. The project will be executed in a
50/50 partnership and multiple specialized fallpipe vessels will be
deployed in the period 2018-2019.
In the period 2010-2012 Boskalis was also
contracted for the rock placement scope for the first Nord Stream
project and also constructed the landfall in Germany.
Boskalis' strategy is aimed at benefitting from
key macro-economic factors which drive worldwide demand in our
markets: expansion of the global economy, increase in energy
consumption, global population growth and the challenges that go
hand in hand with climate change. This development emphasizes the
need for infrastructure to accommodate the continued demand for
natural gas.
For further information
Investor relations:
Martijn L.D. Schuttevâer
ir@boskalis.com
Press:
Arno Schikker
press@boskalis.com
T +31 78 6969310
Royal Boskalis
Westminster N.V. is a leading global services provider operating in
the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round
solutions to infrastructural challenges in the maritime, coastal
and delta regions of the world with services including the
construction and maintenance of ports and waterways, land
reclamation, coastal defense and riverbank protection. In addition,
Boskalis offers a wide variety of marine services and contracting
for the oil and gas sector and offshore wind industry as well as
salvage solutions (SMIT Salvage). Furthermore, Boskalis has a
number of strategic partnerships in harbor towage and terminal
services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage
and Smit Lamnalco). With a versatile fleet of more than 900 vessels
and floating equipment and 11,700 employees, including associated
companies, Boskalis operates in 90 countries across six
continents.
This press release can also be found on our
website www.boskalis.com.
pdf version press release
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Koninklijke Boskalis Westminster N.V. via
Globenewswire
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