CLIMATE CHANGE

Lamprell is negotiating a “significant” offshore wind agreement

[Image: Lamprell]

Fabricator situated in the United Arab Emirates negotiating with an undisclosed customer to finalize the conditions of a reservation agreement.

Lamprell, a UAE-based fabricator, has gone into exclusive discussions as preferred supplier with an undisclosed offshore wind customer for a “very significant deal,” according to the business.

The signing of preferred supplier exclusivity is a critical step in the contracting process, but it does not guarantee a contract, according to the company.

As discussions progress toward contract award, Lamprell will engage with the customer to confirm the conditions of a reservation agreement that will ensure capacity at its Hamriyah yard for the work.

If the discussions are successful, the firm will share further information about the project.

“We have witnessed a build up in bidding activity from Q4 2021, and we are presently in advanced phases of tendering with multiple potential clients throughout the globe, driven by rising demand in both of our end industries of renewables and oil and gas,” Lamprell CEO Christopher McDonald said.

“Introduction of reservation agreements to reserve fabrication yard capacity for projects up to a year in advance is a growing trend, notably in the renewables industry.

“We see these agreements as a very positive sign of foresight and addressing the industry’s limited capacity.”

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