Sumy Frunze, one of Europe's largest producers of equipment for the oil, gas and chemical industries, announced October 9 the signing of a $70 million contract to supply 12 gas compressor units to Gazprom by April 2009 for its Zapolyarny gas compressing station. The compressor station will have annual gas capacity of 70 billion cubic metres. The contract is Sumy Frunze or SMASH'S second order from Gazprom this year. In June it delivered gas transmission equipment worth $60 million to Gazprom. Gazprom is Sumy Frunze's largest customer, accounting for around 35% of its total sales. Kiev-based Dragon Capital said that the latest order suggests that the company is on track to exceed its full-year 2008 sales target of $495 million, driven by the unprecedented growth in the cost of pipeline construction in Russia as well as Central Asia and China. At the end of June, it announced that its order book stood at $720 million; double that for the first half of 2007.
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