Rolls-Royce wins 40m dollar contract to power Asian gas pipeline

Rolls-Royce, the global power systems company, has been awarded a 40m dollar contract to supply equipment and related services to power the flow of natural gas through the Uzbekistan section of the Turkmenistan-China natural gas pipeline.

Rolls-Royce, the global power systems company, has been awarded a 40m dollar contract to supply equipment and related services to power the flow of natural gas through the Uzbekistan section of the Turkmenistan-China natural gas pipeline.

The FTSE 100-listed company will supply Asia Trans Gas (ATG), a joint venture between Uzbekistan's Uzbekneftegaz and China's National Petroleum Corporation, with three RB211 gas turbine driven pipeline compressor units for operation at a compressor station on the 530km Uzbekistan section of the 1,830km Turkmenistan-China natural gas pipeline.

Li Lin, General Director of ATG, said: "We need reliable and efficient technology to transport the gas on this important project for Uzbekistan and China. Rolls-Royce technology is an excellent fit. We look forward to on-time delivery of the equipment and high levels of in-service support."

Andrew Heath, Rolls-Royce President of Energy, said: "Rolls-Royce technology is at the heart of China and Central Asia's growing natural gas pipeline network. This contract strengthens our role and demonstrates the track-record of reliable technology and services we deliver to the world's largest energy infrastructure projects."

The Uzbekistan section of the Turkmenistan-China natural gas pipeline will transport 25bn cubic meters per year of gas from Turkmenistan, through Uzbekistan and Kazakhstan, to China, helping to stabilise China's energy consumption with cleaner natural gas.

Rolls-Royce will manufacture and package the equipment at its energy facilities in the US.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to