AmericasContracts and Tenders

McDermott to sell CB&I to Mason Capital-led consortium

By LNG Prime Staff
McDermott to sell CB&I to Mason Capital-led consortium
Roof raising of Venture Global LNG's tanks in Louisiana in 2020 (Image: CB&I)

Houston-based McDermott has entered into a deal to sell its CB&I storage business to a consortium of financial investors led by New York-based Mason Capital Management. Under the terms of the deal, McDermott expects to receive $475 million of proceeds before taxes and transaction expenses. McDermott expects to complete the transaction in the fourth quarter…

LNG Prime Annual Subscription Membership Required

You must be a LNG Prime Annual Subscription member to access this content.

Join Now

Already a member? Log in here

Most Popular

LNG Terminals

NFE says Altamira LNG offline due to mechanical issue

New Fortress Energy's Fast LNG (FLNG) project off Mexico’s Altamira is offline due to a mechanical issue with the facility’s gas turbine.
Contracts and Tenders

Karpowership awards new FSRU conversion job to Seatrium

Singapore’s Seatrium will convert another LNG carrier into a floating storage and regasification unit for Turkiye’s Karpowership under a new contract.
Contracts and Tenders

Botas seeks LNG carrier charter

Turkiye’s state-owned natural gas and LNG firm Botas has launched a tender to charter a liquefied natural gas (LNG) carrier for a firm 940-day period.

More News Like This

LNG Terminals

CB&I completes Ilijan LNG tanks

Texas-based CB&I and its client AG&P Industrial have completed and commissioned two 60,000-cbm full containment liquefied natural gas (LNG) storage tanks at the LNGPH Ilijan LNG facility in the Philippines.
Contracts and Tenders

Argent LNG in Albania LNG terminal move

Argent LNG, developer of an LNG export terminal in Port Fourchon, Louisiana, has signed a memorandum of understanding with the government of Albania to jointly evaluate the development of a large-scale onshore LNG regasification terminal on the Albanian coast.
Contracts and Tenders

McDermott JV lands Rovuma LNG gig

Houston-based McDermott, through a consortium with Italy’s Saipem, South Korea's Daewoo Engineering & Construction, and China Petroleum Engineering and Construction Corporation, has been awarded a letter of intent including limited engineering and procurement services for the ExxonMobil-led Rovuma LNG project in Mozambique.
Contracts and Tenders

CB&I scores Commonwealth LNG tank gig

Texas-based CB&I has secured a contract from French engineering firm Technip Energies to build five liquefied natural gas storage tanks for Kimmeridge's $13 billion, 9.5 mtpa Commonwealth LNG export project near Cameron, Louisiana.