Ex-Im Bank Okays Compression Equipment Loan
Monday, November 26, 2012
The U.S. Export-Import Bank has approved a US$37.6 million direct loan to support exports by McDermott International Inc. and five American suppliers of gas compression equipment and technology for an gas field offshore Trinidad and Tobago.
The bank is supporting exports of U.S.-only goods and services to a US$150 million project to construct a gas compression system on the existing Hibiscus platform off the northern coast of Trinidad. The borrower is BG Energy Holding and the buyer is BG Trinidad and Tobago, which is responsible for 46% of the larger project.
McDermott International was hired to provide the detail engineering, equipment procurement, unit fabrication, transportation, heavy lift and installation. The company also is responsible for start up and commissioning.
Solar Turbines Inc., San Diego, California, will make gas turbine-powered compressor sets and pipeline equipment. Hudson Products Corp., Sugarland, Texas, will supply heat exchanger equipment, AWC Inc. valve controllers and Gulfex Inc. metal tanks and gas-scrubbers. All three are based in Houston, Texas. Point Eight Power, Belle Chasse, Louisiana, will provide electrical instrumentation and switchgear.
For more information: www.exim.gov