Transfield Services Limited (ASX:TSE) and joint venture partner Clough Limited (ASX:CLO) have been awarded an $80 million construction contract on QGC’s Queensland Liquefied Natural Gas project.
The two phase project commences this month, with the second phase expected to be completed in mid 2014.
Transfield CEO Graeme Hunt says the landmark project reflects the engineering contractors strategic decision to specifically target coal seam and liquefied natural gas contracts.
Mr Hunt says the contract will position Transfield and Clough very well to take advantage of further opportunities as the industry grows.
The project will be among the world’s first to convert coal seam gas into liquefied natural gas.
Transfield posted a full year net profit of $85 million in June.
TSE Price at posting:
$1.73 Sentiment: None Disclosure: Held
