Independent Online: M&R Targets LNG Projects

Murray & Roberts (M&R) is targeting a slice of the estimated $355 billion (R4.31 trillion) global capital expenditure liquefied natural gas (LNG) projects between now and 2025 to meet the forecast demand for the gas.

The listed construction and engineering group – which acquired US-based boutique engineering company, CH-IV International, for $5 million last year through Australian-based subsidiary Clough and Scotland-based privately owned engineering services company, Booth Welsh, for R79m – said more than 90 percent of this expenditure was estimated to be in four regions.

These were Australasia ($160bn), North America ($90bn), Africa ($50bn) and West Russia ($28bn), it said in a presentation at the Deutsche Bank dbAccess South Africa conference, which was placed on the group’s webpage.

M&R said expenditure was expected to shift from an Australasia focus in the short term to North America in the medium term.

LNG projects in East Africa would also accelerate in the longer term, it said.

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