HACKBERRY, LA (KPLC) - Cameron LNG announced today that it has reached a settlement agreement with CCJV about the construction of the three-train LNG liquefaction project in Hackberry.
Cameron LNG says the move better positions the parties in achieving the joint goal of having all three liquefaction trains producing LNG in 2019.
CCJV is a joint venture between affiliates of Chicago Bridge & Iron Company N.V. and Chiyoda Corporation.
Cameron LNG CEO Farhad Ahrabi said:
According to the news release, the settlement is subject to satisfaction of certain conditions and resolves all outstanding matters with CCJV.
In addition, the settlement falls within the existing construction budget and financing commitments for the project and creates a constructive path for all parties to focus on placing the project into service with incentives for the contractor to achieve the schedule.