Cameron LNG: Settlement agreement with CCJV moves plant closer to having all three units producing by 2019

Cameron LNG: Settlement agreement with CCJV moves plant closer to having all three units producing by 2019

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:

"We are pleased to have resolved all outstanding matters with CCJV so all efforts can be focused on the safe and successful completion of the project as we get closer to commissioning and start of operations"

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.

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