logo
Plus   Neg
Share
Email

McDermott In Deal With Cameron LNG On Construction Of LNG Project In Louisiana

McDermott International Inc. (MDR) and its joint venture member Chiyoda reached an agreement with Cameron LNG, which is 50.2% indirectly owned by Sempra Energy (SRE), related to the construction of its LNG liquefaction project in Louisiana, McDermott said.

The project was about 90 percent complete as of the end of the first quarter of 2019. McDermott expects initial production from Trains 2 and 3 in the first quarter of 2020 and the second quarter of 2020, respectively.

Responding to the agreement, Sempra Energy said, "We believe it is reasonable to expect that the overall economics of Cameron LNG will not significantly change as a result of this agreement.

Sempra Energy's projected share of full-year run-rate earnings from the first three trains at Cameron LNG continues to range between $400 million and $450 million annually.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Uber Technologies Inc. will establish a new U.S. general and administrative hub in Dallas, which will create 3,000 new jobs and more than $75 million in capital investment, Texas Governor Gregg Abbott said. Uber will get a grant of $24 million from the Texas Enterprise Fund or TEF, a business incentive fund that is used for attracting new business to the state and to ensure their growth. SAMpark LLC recalled 185 Children's pajama sets for burn injury risk to children. The pajamas failed to meet the flammability standard for children's sleepwear that requires sleepwear to be either snug-fitting or flame resistant. However, there have been no incidents or injuries reported so far. While reporting financial results for the second quarter on Wednesday, retailer Target Corp. (TGT) initiated adjusted earnings and comparable sales guidance for the third quarter as well as raised adjusted earnings guidance for the full-year 2019. For the third quarter, Target expects comparable sales...
Follow RTT