L&T Secures Landmark Offshore Contract with QatarEnergy

Larsen & Toubro's energy arm, L&T Energy Hydrocarbon, clinches its largest contract ever with QatarEnergy LNG, marking a significant achievement in the global LNG sector. The project encompasses engineering to commissioning of offshore complexes, bolstering L&T's global energy portfolio and supporting Qatar's energy objectives.

Larsen & Toubro's (L&T) energy subsidiary, L&T Energy Hydrocarbon (LTEH), has secured an unprecedented contract with QatarEnergy LNG, marking a historic moment for the Indian conglomerate in the global liquefied natural gas (LNG) industry. The Ultra Mega Offshore Contract was awarded for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4), representing L&T's largest single order to date.

The contract involves comprehensive engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes, which entail large platforms with power generation facilities, living quarters, and interconnected structures, located about 80 kilometers off Qatar's northeast coast.

S N Subrahmanyan, Chairman and Managing Director of L&T, highlighted this achievement as a landmark that enhances their global energy profile while aligning with Qatar's energy security goals. Subramanian Sarma, Deputy Managing Director & President of L&T, acknowledged QatarEnergy LNG's trust in L&T's capacity to execute large-scale projects, viewing it as a testament to their expertise and reliable solutions.

An Axis Capital report indicates that this contract is part of QatarEnergy's strategy to boost LNG production capacity from 70 million tonnes per annum (MTPA) to 126 MTPA. L&T has disclosed Rs 350 billion in core orders for Q4FY25, showing robust Q3FY25 performance with a 20% growth in core revenue. Looking forward, the company's FY26 prospects suggest an 8%-10% growth potential.

(With inputs from agencies.)