Emerson business unit enters five-year deal with Qatargas Operating Co.
Emerson Process Management (EPM), a business unit of St. Louis-based Emerson, has entered into a long-term support and service agreement with Qatargas Operating Company Ltd. for strengthening its liquefied natural gas (LNG) operations.
Under the five-year pact, EPM will provide asset management services, advanced skills training, and a comprehensive parts management program.
It is noted that EPM already has a long term alliance in place with Qatargas for supply of Emerson's digital automation solutions, including PlantWeb(R) digital plant architecture and smart instrumentation.
Qatargas, which pioneered the fast-growing LNG business in Qatar, is presently engaged in the construction of four new LNG liquefaction and mega trains, at Ras Laffan, which are expected to create the world's largest capacity for LNG on starting of its operations, each delivering at an annual rate of 7.8 million tons.
The share of Emerson was closed on Wednesday at $ 31.26 (NYSE). The scrip touched intraday high and low figure of $ 32.27 and $ 31.15.