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OFS - McDermott stands by Cameron LNG as Chiyoda struggles - May 2019

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McDermott insisted that its cost position on Sempra energy’s Cameron LNG export facility has not changed, disagreeing with a release by Chiyoda Corp., its JV partner on the construction project in Louisiana. The Japan-based engineering company, which has said it is threatened by unexpected costs on the project, reportedly agreed to an $1.36 billion lifeline. A release by Chiyoda’s new Strategy and Risk Integration Division said it ran into “a substantial volume of unanticipated additional works,” including a high turnover of labor......
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