HOUSTON, May 14, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) today announced that Train 1 of the
Cameron LNG project in Hackberry,
La., has begun producing liquefied natural gas (LNG). While
production is in the initial phases, this significant project
milestone is a precursor to first cargo, which is expected later
this quarter.
"When a facility starts producing a product, it is always a
significant accomplishment, especially for such a large-scale
project like Cameron LNG," said Mark
Coscio, McDermott's Senior Vice President for North, Central
and South America. "We are proud
of our project team for this achievement and for their exceptional
safety performance during the construction phase. Once Train 1 is
at full production and we have completed Trains 2 and 3, this
facility will be one of the largest producers and exporters of LNG
to markets around the world."
Since the initial award in 2014, McDermott and its joint venture
partner on the project, Chiyoda, have provided the engineering,
procurement and construction for the Cameron LNG project. The
project includes three liquefaction trains with a projected export
capacity of more than 12 million tonnes per annum of LNG, or
approximately 1.7 billion cubic feet per day.
Cameron LNG is jointly owned by affiliates of Sempra LNG, LLC,
Total, Mitsui & Co. Ltd. and Japan LNG Investment, LLC, a
company jointly owned by Mitsubishi Corporation and Nippon Yusen
Kabushiki Kaisha (NYK).
About McDermott
McDermott is a premier, fully integrated provider of technology,
engineering and construction solutions to the energy industry. 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. Our proprietary technologies, integrated expertise and
comprehensive solutions deliver certainty, innovation and added
value to energy projects around the world. Customers rely on
McDermott to deliver certainty to the most complex projects, from
concept to commissioning. It is called the "One McDermott Way."
Operating in over 54 countries, McDermott's locally focused and
globally-integrated resources include approximately 32,000
employees, a diversified fleet of specialty marine construction
vessels and fabrication facilities around the world. To learn more,
visit www.mcdermott.com.
Forward-Looking Statements
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. These forward-looking statements include,
among other things, statements about the expected timing of full
LNG production on the Cameron project and the expected scope of the
project. Although we believe that the expectations reflected
in those forward-looking statements are reasonable, we can give no
assurance that those expectations will prove to have been correct.
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. If one or more of
these risks materialize, or if underlying assumptions prove
incorrect, actual results may vary materially from those expected.
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,
2018 and subsequent quarterly reports on Form 10-Q. This
press release reflects management's views as of the date hereof.
Except to the extent required by applicable law, McDermott
undertakes no obligation to update or revise any forward-looking
statement.
Contacts:
Investor Relations
Scott
Lamb
Vice President, Investor Relations
+1 832 513 1068
Scott.Lamb@McDermott.com
Global Media Relations
Gentry Brann
Senior Vice President, Communications, Marketing and
Administration
+1 281 870 5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.