Indian steel producer Welspun has won a tender, beating 13 other international companies and local steel producer Tenaris, to supply pipelines for a liquefied natural gas (LNG) export project in the Vaca Muerta region of Argentina, Yieh reports.
This is the first time in Tenaris' more than 70-year history that the company has not been selected to implement a major energy project in the country. Tenaris, part of the Techint Group, is the only producer of pipes for the oil and gas industry in Argentina.
The contract provides for the supply of pipes for a gas pipeline with a length of almost 500 kilometers, which will transport gas from Vaca Muerta to the coast of Rio Negro province, where it will be liquefied and exported by sea.
Welspun's winning bid exceeded $200 million and was about 40% lower than Tenaris' offer.
