ABB to electrify one of the largest oil terminals
Keystone-SDA
ABB has won a major contract in Azerbaijan for the electrification and grid stability of one of the world’s largest oil and gas terminals, Sangachal, operated by BP.
The connection to the national grid will enable the electrification of the complex, which covers more than 688 hectares, an area equivalent to more than 800 football pitches, the company said in a statement on Wednesday.
The contract includes initial studies, detailed engineering work, installation and commissioning of the infrastructure. Located 55 kilometres south of Baku, the Sangachal terminal has a daily capacity of 1.2 million barrels of oil and about 81 million cubic metres of gas.
+Get the most important news from Switzerland in your inbox
“ABB helps existing energy infrastructures run leaner, by automating to make them more efficient, and cleaner, by electrifying to use less energy and decarbonise,” said Per Erik Holsten, President of ABB’s Energy Industries division. “We are delighted to provide site-specific electrification and automation solutions to support bp’s efforts to decarbonise the energy ecosystem in a region where we have had a significant presence for over 25 years.”
No details were provided on the financial value of the order. On the stock exchange on Wednesday afternoon, ABB’s share price was down about 1%, showing a trend common to other cyclically sensitive stocks. Since the beginning of January, however, the share price has risen by 6%, and the performance over a year (+7%) and a five-year period (+128%) is also positive.
ABB is one of Switzerland’s largest companies, operating in various fields ranging from robotics to energy and automation. Worldwide, the company – which was formed in 1988 through the merger of Sweden’s ASEA and Aargau’s Brown, Boveri & Cie (BBC), but whose roots go back more than 140 years – employs 110,000 people in more than 100 countries.
Adapted from Italian by DeepL/ac
We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.
Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.
If you have any questions about how we work, write to us at english@swissinfo.ch
