Energy-industrial contractor CB&I had a good month of July on the heels of several large EPC contracts, particularly a $2.3-billion joint-venture award for a mechanical, electrical and instrumentation contract on the estimated $19-billion Gorgon liquified-natural-gas, or LNG project in Australia.
Awarded to the joint venture of Netherlands-based CB&I and Australia-based Kentz, the work includes gas processing, compression and associated utilities, CB&I says. Set to finish in 2015, the project, a development of several international energy companies, could produce 15 million tons of gas a year. CB&I has a 65% stake in the JV. “This will be the largest LNG export facility CB&I has built to date as an EPC,” says Avram Fisher, an analyst at BMO Capital Markets, New York City.