Hyundai Engineering announced on Sept. 21 that it had secured a contract on Sept. 20 for the basic Front End Engineering Design (FEED) services of the Pine Bluff GTL Americas project ordered by GTL Americas.
This project entails constructing a facility in Jefferson County, Arkansas, the U.S. that converts natural gas into approximately 41,000 barrels daily of synthetic diesel, or High Cetane Synthetic Fuel, and Paraffinic Synthetic Naphtha through a Gas to Liquid (GTL) process.
Through this contract, Hyundai Engineering plans to carry out the basic design for the Pine Bluff GTL project and share detailed cost breakdowns with GTL Americas using the Open Book Cost Estimate (OBCE) method. After the final investment decision (FID) by the client, they also aim to secure the main Engineering, Procurement, and Construction (EPC) contract.
It’s known that GTL Americas plans to order additional GTL facilities besides this project. Thus, Hyundai Engineering plans to leverage the successful execution of this project to have an advantage in securing subsequent GTL projects.
A Hyundai Engineering representative mentioned, “Given the potential for additional EPC projects and other related opportunities, we plan to put our full capabilities behind the successful execution of this project.”