Key Points
L&T wins largest QatarEnergy LNG offshore contract
Marks major milestone in LNG sector
Enhances Qatar's energy security and global stance
Strengthens L&T's global energy portfolio
New Delhi [India], March 26 (ANI): Larsen & Toubro's (L&T) Hydrocarbon Business, L&T Energy Hydrocarbon (LTEH), has secured its largest-ever contract with QatarEnergy LNG. The Ultra Mega Offshore Contract, awarded for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4), marks a significant milestone for L&T in the global liquefied natural gas (LNG) sector.
L&T added in a release that the scope of work encompasses the engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes, each comprising of large offshore platforms with compression and power generation facilities, living quarters, flare platforms, interconnected bridges, and other associated structures to be located at approximately 80 kms off the northeast coast of Qatar.
S N Subrahmanyan, Chairman & Managing Director- L&T commented, "Securing QatarEnergy LNG's Ultra Mega Offshore Contract--the largest single order in our history, is a landmark achievement. This prestigious project strengthens our global energy portfolio while supporting Qatar's energy security objectives. I thank QatarEnergy LNG for placing their trust in L&T to deliver this complex and strategically important project. We look forward to setting new benchmarks in project execution that will reinforce Qatar's position as a global LNG leader.
Subramanian Sarma, Deputy Managing Director & President-L&T commented, "The award of a project of such nature is a reflection of the confidence & trust placed by QatarEnergy LNG in L&T's expertise and its ability to deliver such large-scale projects for which L&T is very thankful. This collaboration not only strengthens our partnership but also reaffirms L&T's commitment to supporting Qatar's strategic energy objectives through innovative and reliable solutions."
The Axis Capital, in its report earlier added that the contract is a part of QatarEnergy's broader plan to expand its liquefied natural gas (LNG) production capacity from 70 million tonnes per annum (MTPA) to 126 MTPA. The report added that L&T has already disclosed approximately Rs 350 billion in core orders on exchanges for Q4FY25.
The company reported a strong performance in Q3FY25, with a notable core order inflow beat and a 20 per cent growth in core revenue, the report added in its analysis.
The report added that L&T's FY26 prospect pipeline will be a key indicator of its growth potential, with an expected 8 per cent-10 per cent increase.
