PHOTO COURTESY OF BECHTEL LNG terminals benefit from the low cost of natural gas. Related Links: Main Story: Market Picture Begins to Clear for Top 400 Contractors The surge in shale-gas extraction around the U.S. has caused a worldwide rush to obtain cheap U.S. natural gas. Now, to answer this demand, major energy companies are scrambling to convert existing liquefied natural gas, or LNG, import terminals into export terminals.On Nov. 14, 2011, Houston-based Cheniere Energy awarded Bechtel a $3.9-billion engineering, procurement and construction (EPC) contract for two new liquefaction trains at the Sabine Pass LNG terminal in Cameron Parish, La.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.