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McDermott's Role in $130 Billion of Energy Projects Challenged by Delays, Other Hurdles
Industry Segment: Production | Word Count: 754 Words
SUGAR LAND--August 1, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--McDermott International (NYSE:MDR) (Houston, Texas) took a big hit in second-quarter 2019 after earnings proved much weaker than expected, and the company acknowledged that it was expecting a full-year net loss. The engineering, procurement and construction (EPC) giant reported a drop in new contract awards and said that benefits from its biggest project, a liquefied natural gas (LNG) plant in Louisiana, would come later than expected. Industrial Info is tracking nearly $130 billion in active projects involving McDermott, more than $53 billion of which are under construction.
Within this article: Details on some of the highest-valued projects involving McDermott and where they stand in development, including Sempra Energy's (NYSE:SRE) Cameron LNG complex, ConocoPhillips' (NYSE:COP) Freeport LNG complex, Puget Sound Energy's Tacoma LNG project and Phillips 66's (NYSE:PSX) petroleum terminal in Texas.
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