Cameron LNG reaches settlement deal with project contractor
Sempra LNG & Midstream said that Cameron LNG has reached a settlement agreement with its contractor, CCJV, for the construction of the liquefaction project in Hackberry, Louisiana.
CCJV is a joint venture between an affiliate of Chicago Bridge & Iron Company (CB&I) and Chiyoda International Corporation, and the settlement resolves all of JV’s known and unknown claims to date, including Hurricane Harvey.
Sempra LNG & Midstream added that the settlement better aligns the interests of all parties in achieving the joint goal of having all three trains at Cameron producing liquefied natural gas (LNG) in 2019.
The settlement falls within the existing construction budget and financing commitments for Cameron LNG while including incentives for additional milestones.
The $10-billion liquefaction facility comprises three liquefaction trains with an expected export capability of 12 million tonnes per annum of LNG or approximately 1.7 billion cubic feet per day.
Cameron LNG is jointly owned by units of Sempra LNG & Midstream, Engie (formerly GDF SUEZ), Mitsui & Co., and Japan LNG Investment, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2 percent of Cameron LNG.