Contemporary marketplace dynamics have changed the conventional relationship between owners of projects and EPC contractors. Today's owners focus their resources on core competencies and outsource many development activities.
Many owners are financial or non-traditional owners with little or no process industry experience.
Additionally, more and more economically viable projects are being project financed. Frequently, innovative financing arrangements determine whether or not a project proceeds. In many cases, these changes are requiring EPC contractors and process technology owners to take equity positions in projects.