Tag Pacific nabs second A$10m contract for Ichthys LNG project 

(MENAFN - ProactiveInvestors - Australia) Tag Pacific (ASX: TAG) has been awarded a second A10 million contract for Inpex's Ichthys liquefied natural gas project off northwestern Australia.

The contract is for the design, construction and commissioning of an emergency power system for a Floating Production, Storage and Offloading vessel.

Korean-based Daewoo Shipbuilding & Marine Engineering awarded the contract to Tag subsidiary MPower over strong international competition.

The Ichthys project will have initial liquefied natural gas production of 8.4 million tonnes per annum along with 1.6 million tonnes per annum of liquefied petroleum gas and 100,000 barrels of condensate per day.

Last month Tag was awarded a contract by Samsung Heavy Industries for the design, construction and commissioning of an emergency power system for the Central Processing Facility, also with a value of up to about 10 million.

MPower became a wholly owned subsidiary of Tag at the end of last month after Tag shareholders endorsed an 'Integration Proposal' for Tag to move from 59% to 100% ownership of MPower.

MPower has recently completed an emergency power system for Woodside Petroleum's (ASX: WPL) North Rankin 2 project and a temporary power station for Chevron's Gorgon liquefied natural gas project.