NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ:NVEE), announced today that it has been awarded a $23 million liquefied natural gas (LNG) vaporization replacement project by a major Midwest utility. NV5 will provide engineering, procurement, and construction (EPC) services for the design and installation of modern vaporization equipment to increase the efficiency and capacity of the LNG facility.
The new vaporization equipment will increase the facility's output capacity by approximately 150% to support increased natural gas demand during periods of peak usage. The project duration is approximately 20 months and is expected to be completed in November 2022.
"LNG facility modernization continues to be a driver of our Utility Services vertical and our ENERGY 2021 initiative, and we are pleased to deliver turnkey LNG solutions to help meet the growing energy demands of the population," said Dickerson Wright, PE, Chairman and CEO of NV5.
"We are proud to provide specialized engineering design and technical services to support the upgrade and modernization of existing LNG facilities for our utility clients," said Peter Dirksen, PE, President of NV5 LNG Services.