On October 16, SEPCO and Saudi Aramco signed an ECP contract for MGS in Saudi Arabia, under which SEPCO will build two large natural gas booster stations for Saudi Arabia's most important East-West Gas Transmission Line.
The project is the debut of China's power project construction companies in Saudi's oil and gas engineering sector on an EPC basis, marking a success of SEPCO in diversifying its business portfolio. This is another breakthrough in the high-end market following the expansion of Shabha 250 MW gas turbine station and JIGCC 3850 MW gas turbine station (EPC-based) in Saudi Arabia.
This is an important project which draws personal attention from the King of Saudi Arabia. The project will increase the daily transmission capacity of the East-West Gas Transmission Line from 8.4 billion cubic feet to 9.6 billion cubic feet and will meet gas demands of King Abdullah Economic City and a number of large-scale gas-fired power stations in west of the country. It will significantly reduce the consumption of oil by the western economy and play a crucial role in promoting the economic development in western Saudi Arabia, the country's oil export capacity and the environment.
The win over a number of internationally renowned oil and gas engineering companies from Japan, Italy, and Spain is an important achievement of SEPCO's international marketing change from opportunity-reliant to strategy-reliant. SEPCO will seize the opportunity and enhance its business diversification.
