L&T Secures Record ₹15,000 Crore LNG Project Order from QatarEnergy

Larsen & Toubro (L&T) has announced that its hydrocarbon business has won an ‘ultra mega’ offshore contract from QatarEnergy LNG for the North Field Production Sustainability Offshore Compression Project.

The contract, classified by L&T as an ‘ultra mega’ order, is valued at over ₹15,000 crore, making it the largest single order in the company’s history.

Scope of the Project

As part of the deal, L&T will handle the engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes.

These complexes will include large offshore platforms equipped with compression and power generation facilities, along with living quarters, flare platforms, interconnected bridges, and other associated structures.

Located approximately 80 km off the northeast coast of Qatar, these facilities will play a crucial role in sustaining gas production from the North Field, one of the world’s largest natural gas reserves.

Significance of the Contract

Expressing his enthusiasm about this achievement, S N Subrahmanyan, Chairman & Managing Director of L&T, stated “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.”

Subramanian Sarma, Deputy Managing Director & President of L&T, added that the collaboration further cements the company’s partnership with QatarEnergy LNG and reaffirms L&T’s commitment to providing innovative and reliable solutions for Qatar’s energy sector.

Stock Performance

Following the announcement, L&T share price was trading 0.3% higher at ₹3,480.7 as of 11:10 AM on March 26. The stock has gained 8.45% in the past month, showcasing positive investor sentiment towards the company’s growth prospects.

Conclusion

This offshore contract marks a major milestone for L&T in the global energy sector. By securing this deal, L&T is not only reinforcing its presence in Qatar’s strategic energy projects but also expanding its influence in the global hydrocarbon and infrastructure sectors. The project aligns with Qatar’s vision to maintain and enhance its position as a leading supplier of LNG worldwide.

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