Public sector authorities are realizing that many times they are not ready to implement projects as P3s. They need more time to define their objectives and goals for the project, properly define the scope and phasing, and understand and fairly allocate risks between the public and private sectors.
As a result, a number of agencies are opting for or at least considering a different approach – engaging private-sector players earlier at a point more upstream in the planning process through what is known as a pre-development agreement (PDA).
In our experience, the best way to mature innovative solutions is to prototype them in a physical environment that closely reflects job site conditions, essentially a lab for designers and builders. Doing so results in a better understanding of integration complexity, the capabilities of the technology, and real versus theoretical benefit discrepancies, as well as the implications of how solutions might be deployed and scaled.
As part of Gastech 2019, executives from Bechtel’s OG&C business spoke with energy reporters about the company’s role in the current LNG market and its contributions to the broader energy sector.