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Enerflex Ltd. Terminates EH Cryo Project Contract in Kurdistan

Nov 27, 2024•over 1 year ago

Contract Type

contract

CalgaryManufacturingEnergyOil And GasNatural ResourcesRenewable Energy

Description

Enerflex Ltd. has terminated its contract for the modularized cryogenic natural gas processing facility in Kurdistan, known as the EH Cryo project, due to Force Majeure circumstances. The company is disputing certain claims made by the customer and plans to seek recovery of the $161 million net asset position associated with the project. The termination of the project is expected to reverse approximately $75 million of work and have minimal impact on future revenue.

Company Information

Company

Enerflex

Location

Calgary, Alberta, Canada

About

Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,400 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

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