New CEO takes over at McDermott

Houston-based McDermott said on Tuesday it has appointed Michael McKelvy as the company’s president and chief executive officer.

McKelvy took over the role from Lee McIntire, who served as interim CEO since June 2021 and will continue as a member of McDermott’s board of directors.

According to a McDermott statement, McKelvy spent more than three decades working in the engineering and construction industry across the US and international markets, including Europe and the Middle East.

He previously led Gilbane Building as president and CEO.

McKelvy said in the statement that McDermott’s business model and commercial strategy, “carve out a unique position to further capitalize on the changing industry dynamics and facilitate the energy transition.”

“I am eager and enthusiastic to join this already-robust leadership team and continue their progress to strengthen the portfolio and forge a new path for the industry,” he added.

New CEO takes over at McDermott
Michael McKelvy (Image: McDermott)

Several LNG contracts

Lately, McDermott won a number of LNG contracts.

Australian LNG player Woodside contracted the company for the Scarborough project offshore Australia, which together with the Pluto LNG Train 2 development is worth about $12 billion.

McDermott will provide engineering, procurement, construction, installation and commissioning services for the project’s floating production unit.

More recently, the company’s unit CB&I secured a storage tank contract from Venture Global for the latter’s planned Plaquemines LNG project in Louisiana.

CB&I will build two 200,000-cbm LNG storage tanks as part of the first phase of the LNG export project.

The firm also won a contract from We Energies to design and build two LNG storage tanks for peak shaving facilities in southeastern Wisconsin.

Both facilities will each have the capacity to store twelve million gallons of LNG.

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