Aspen Aerogels has announced that it has been awarded a contract to provide its Cryogel®Z aerogel insulation to the PTT LNG Nong Fab LNG Receiving Terminal Project in Thailand.
According to the statement, the contract was awarded to Aspen by SPCC Joint Venture – a joint venture (JV) between Saipem S.A. and CTCI Corp. responsible for the engineering, procurement, construction and commissioning of the terminal. The terminal will include two 250 000 m3 storage tanks, a 7.5 million tpy regasification facility, a trestle marine jetty and an administrative facility.
Under the terms of the contract, and subject to modification by SPCC Joint Venture, Aspen claims that it has agreed to provide approximately US$35 million – US$40 million of Cryogel®Z for use in the construction of the Nong Fab Terminal. The delivery of the product is scheduled to run from 2Q19 through 4Q20.
Don Young, President and CEO of Aspen, said: “We are proud to have been selected by PTT LNG to provide cutting edge thermal insulation to the Nong Fab Terminal. Cryogel®Z provides exceptional value to our LNG customers through an unmatched combination of performance advantages over alternative insulation materials. PTT LNG previously gained first-hand knowledge of the benefits of Cryogel®Z during the expansion of their Map Ta Phut LNG Receiving Terminal in 2017. Our selection as the primary insulation supplier in the construction of the Nong Fab Terminal demonstrates the strength of Aspen's value proposition in LNG facilities.
“The Nong Fab Terminal contract provides a strong foundation of project work in support of our previously announced 2019 outlook and objectives. We are pleased to have PTT LNG's vote of confidence in Aspen as the insulation partner of choice for this very important project.”