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IndustryGlossary Term

AGC (Associated General Contractors of America)

A U.S. trade association representing general contractors in construction. Subcontractors working with AGC members often encounter standardised contract templates and safety compliance expectations tied to membership. Knowing AGC standards helps subs align bids and prequalification documents with GC requirements.

Related Terms

FSU (Floating Storage Unit)

Industry

A moored vessel used solely to store crude oil or LNG offshore, without production capabilities. Subcontractors are engaged for inspection, maintenance, and marine support work aboard these assets. Mobilisation logistics and offshore safety certifications are typically required before access is granted.

Unconventional

Industry

Refers to oil and gas extracted from tight rock formations requiring hydraulic fracturing or horizontal drilling. For subcontractors, unconventional work typically means large multi-well pad sites with high crew and equipment demands. Expect fast-paced rotational schedules and specialised service requirements.

Gigafactory

Industry

A large-scale manufacturing facility producing batteries or energy components, often for EV or renewable projects. These sites generate major subcontracting opportunities in electrical, civil, and mechanical trades. Expect large crew mobilisations, tight schedules, and industrial construction workflows.

Export Terminal

Industry

A facility where oil, gas, or LNG is transferred from pipelines or storage for shipment to buyers. Subcontractors are often mobilised here for maintenance, inspection, and commissioning work. Security clearances and site-specific safety certifications are typically required.

Grid Modernization

Industry

The large-scale upgrading of electrical infrastructure to support smart technologies, renewable integration, and improved reliability. For subcontractors, it drives demand for specialised installation, maintenance, and inspection work. Crews may be deployed on projects ranging from substation upgrades to smart metre rollouts.

Dual-Class Share Structure

Industry

A corporate ownership arrangement where founders or executives hold shares with greater voting power than ordinary investors. For subcontractors, this means a client company's leadership can make major operational decisions without shareholder approval. Expect stable long-term contracts but limited outside pressure to change payment terms or procurement practices.

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