To learn more, visit www.mcdermott.com. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.ATTORNEY ADVERTISING - Prior results do not guarantee a similar outcome.Unless otherwise indicated, attorneys at Eversheds Sutherland (US) LLP are not certified by the Texas Board of Legal Specialization. Golden Pass is one of a number of Gulf Coast exporting projects looking to secure supply for the next wave of U.S. LNG. The LNG export project would have a capacity of approximately 15.6 million tons of LNG per year, and the new facility would be co-located at the site of the existing LNG import terminal owned and operated by Golden Pass LNG Terminal, an affiliate of GPP. David was seconded into Golden Pass LNG in December of 2012 performing concept selection, pre-FEED and FEED engineering and is now overseeing the roughly 5 year EPC effort currently underway. 18-Months after FID Sabine Pass LNG Trains 1 & 2 were 57.1% complete, vs our estimated range for Golden Pass LNG (~10-16%). Golden Pass LNG maintains a long-term commitment to Sabine Pass, Port Arthur and the greater Southeast Texas area, and we work in close partnership with our community to deliver a world-class LNG terminal. Photo: courtesy of PAO NOVATEK. Free Read. Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed, affiliated and member firms (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. UK-based services firm TechnipFMC has been awarded the engineering, procurement and construction (EPC) contract for the Arctic LNG 2 project from Russian independent gas producer Novatek. A McDermott, Chiyoda, Zachry joint venture was awarded the EPC contract. Chicago Bridge & Iron Co. NV has been awarded an engineering, procurement, and construction contract worth more than $1 billion for Golden Pass LNG LLC’s terminal near Sabine Pass, Texas. Under the terms of the turnkey EPC contract, Kiewit will design, engineer, construct, commission, test, and guarantee the facility, which carries a 10 million metric tons per annum (MMtpa) nameplate. Read about the Golden Pass LNG Project and how NES Global Talent have supported the project. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings. Golden Pass said that if a market develops, it would be ready to serve LNG bunkering barges with capacities of 3,000 to 12,000 m 3 of LNG and marine vessels that use LNG for fuel. The pair are already developing the 18.1 mmty Golden Pass LNG export project on the Texas coast. "We are pleased to announce that Golden Pass LNG has awarded an EPC contract to CB&I for this project," said John Plugge, Golden Pass LNG LLC president. Qatar Petroleum and ExxonMobil have made a final investment decision on the Golden Pass LNG export project in Texas. McDermott, Chiyoda and Zachry Group will perform engineering, procurement, construction and commissioning of three approximately 5.2 million ton per annum (MTPA) LNG trains with an expected production capacity of around 16 million tons of LNG per year. The project’s engineering, procurement and construction (EPC) contract was awarded to a consortium comprising Chiyoda, McDermott and Zachry and was executed at the FID ceremony, the statement reads. Working interests in the Golden Pass LNG export project are 70 percent Qatar Petroleum and 30 percent ExxonMobil. The expansion project was proposed in 2012 and is being developed by Golden Pass Products LLC, a joint venture of affiliates of Qatar Petroleum (70%) and Exxon Mobil (30%). This website uses cookies to improve functionality and performance. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2017, and subsequent quarterly reports on Form 10-Q. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. The project is lead by Golden Pass Products a joint venture between Qatar Petroleum (70 percent) and ExxonMobil (30 percent). As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. The new facility will be located at the site of the existing Golden Pass LNG import terminal in Sabine Pass, Texas. EPC work: for joint venture partners at Golden Pass LNG project in the US Photo: GOLDEN PASS LNG Venture wins Golden Pass EPC work 6 February 2019 15:06 GMT Updated 7 February 2019 13:48 GMT Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. Golden Pass LNG is committed to supporting economic development in the area by employing local people. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Kiewit has been awarded an EPC contract for the proposed Calcasieu Pass LNG export project in Cameron Parish, Louisiana. * McDermott defines a mega contract in excess of USD $1.0 billion. The Golden Pass liquefied natural gas (LNG) import terminal located in Texas, US, is being expanded to add an export facility. The project’s Engineering, Procurement and Construction (EPC) contract was awarded to a consortium comprising Chiyoda, McDermott and Zachry and was executed at the ceremony by senior executives representing the consortium together with Golden Pass LNG. The Calcasieu Pass project is the third major project since 2015 to get the go-ahead for construction, joining Shell’s LNG Canada facility, approved … McDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. The plant permanently employed up to 75 people at all levels, including operators, … (Page 8) (continued) 4) Sabine Pass Comparison. Most important being the EPC contractor’s final cost estimate. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement. Work will commence in the first quarter of 2019 with a projected completion date in 2024. 3) Our estimates point to Golden Pass project progress sitting closer to ~10% vs Chyioda’s report figure of 16% (Q2) based on both our satellite image review and…. This press release reflects management's views as of the date hereof. McDermott, Chiyoda and Zachry Group will perform engineering, procurement, construction and commissioning of three approximately 5.2 million ton per annum (MTPA) LNG trains with an expected production capacity of around 16 million tons of LNG per year. Save to read list Published by Nicholas Woodroof, Assistant Editor Tanks and Terminals, Wednesday, 06 February 2019 12:00. These forward-looking statements include, among other things, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues or profitability, and statements about the expected value, scope, execution and timing of the project discussed in this press release. Golden Pass LNG Project's signing ceremony on February 5, 2019; shake hands between Chiyoda’s Chairman Katsuo Nagasaka and Golden Pass President Sean C. Ryan Coker Unit for Jubail Export Refinery Saudi Arabia’s first heavy oil cracking facility Operating in over 54 countries, McDermott's locally focused and globally-integrated resources include approximately 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. "We will apply not only our vertically-integrated capabilities but also some of the best practices and lessons learned for major construction projects in the region. Advertisement. The USD10+ billion liquefaction project will consist of three approximately 5.2 million metric tons per annum (Pages 4 & 11)• Our updated project timeline (delay) and contingency fund estimates […] "McDermott has extensive experience in executing major projects along the U.S. Gulf Coast," said Richard Heo, McDermott's Senior Vice President for North, Central and South America. EPC contract awarded for Golden Pass LNG Export Terminal; EPC contract awarded for Golden Pass LNG Export Terminal. HOUSTON, Feb. 5, 2019 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR), along with its joint venture partners Chiyoda International Corporation and Zachry Group, announced today that they have been awarded a mega* contract by Golden Pass Products LLC, a joint venture between Qatar Petroleum and ExxonMobil affiliates, to build the export project in Sabine Pass, Texas. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Golden Pass LNG Awards EPC Contract Posted on Aug 1, 2006 in Regas Terminals & Capacity | Comments Off on Golden Pass LNG Awards EPC Contract Chicago Bridge & Iron Co. NV has been awarded an engineering, procurement, and construction contract worth more than $1 billion for Golden Pass LNG LLC’s terminal near Sabine Pass, Texas. The contract award will be reflected in McDermott's first quarter 2019 backlog. In the press release issued today, Qatar Petroleum, ExxonMobil and ConocoPhillips, the three equity holders in the facility, all praised the development as a major step toward increasing natural gas supply to the United States. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a project to reach FID, it goes through a certain number of steps. David is currently located in Japan where the detailed Engineering, Procurement and Construction Planning activities are being performed. ... (EPC) phase. Learn More The Golden Pass LNG import facility comprises a regasification unit with a capacity for two bcf/d of gas accompanied by five 155,000m 3 LNG storage tanks and two marine berths. It will be integrated into the existing Golden Pass LNG … It is called the "One McDermott Way." Panel: Early Investors Have Advantage as LNG Construction Costs Soar, FERC Issues Data Requests Regarding Crown Landing Vapor Dispersion Zones, Lake Charles LNG Requests Extension of Construction Commencement Date. Investor Relations Scott LambVice President, Investor Relations+1 832 513 1068[email protected], Global Media RelationsGentry BrannGlobal Vice President, Communications and Marketing+1 281 870 5269[email protected], View original content to download multimedia:http://www.prnewswire.com/news-releases/mcdermott-chiyoda-and-zachry-group-awarded-golden-pass-lng-export-project-in-southeast-texas-300790112.html. QP recently has moved to significantly cut emissions and become more active in the growing LNG … We believe engineering delays have eroded a significant portion of the EPC risk, contingency, and profit, with the likelihood of ramping balance sheet exposure. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The Golden Pass export terminal is itself a joint venture between affiliates of Qatar Petroleum and ExxonMobil. "We are proud to … However, in its FEIS from FERC, construction costs are estimated at $14.5 billion, and its turnkey EPC contract with Bechtel, also a Tellurian investor, is for $15.2 billion. If you choose to continue browsing this website, you are giving implied consent to the use of cookies. I am doubtful about Qatar making Golden Pass LNG FID in the coming month. Image: Novatek's Yamal LNG project in Russia. A joint venture of three energy service companies had landed a "mega contract" to build Exxon Mobil and Qatar Petroleum's $10 billion Golden Pass LNG export terminal just south of Port Arthur. Find out more This project builds upon the successful international relationship between ExxonMobil and Qatar Petroleum, with Qatar Petroleum joining ExxonMobil in exploration and development activities in Argentina, Brazil and Mozambique. The last cost estimate officially done by an EPC contractor for the project was in 2014. Zachry Group and its partners, Chiyoda International Corp., a US based wholly-owned subsidiary of Chiyoda Corp., and McDermott International Inc., have been awarded an EPC contract by Golden Pass Products LLC, a joint venture partnership of Qatar Petroleum and ExxonMobil affiliates, to build the export project in Sabine, Texas.

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