The settlement resolves all financial and legal disputes among the parties involved in the massive natural gass export terminal in Sabine Pass, Zachry said.
A Houston bankruptcy court judge has given interim approval to a settlement between Zachry Holdings Inc. and Golden Pass LNG Terminal LLC over a costly dispute involving construction of a massive Southeast Texas liquefied natural gas export terminal. In a statement Wednesday afternoon, Zachry said the agreement fully resolves all financial and legal disputes among the parties involved in the Golden Pass terminal project in Sabine Pass .
San Antonio’s Zachry Holdings reaches settlement in Golden Pass LNG dispute Houston's McDermott International Inc. and Japan's Chiyoda International Corp. -- Zachry's joint venture partners on the project -- will complete the work. The terminal is about 75% complete. 'Going forward, we are focused on getting people back to work, including local workers and vendors, and progressing this critical energy project,' Golden Pass LNG said in a statement.
Golden Pass LNG terminal’s owner accuses Zachry of holding construction contract 'hostage' John Zachry had cited the Covid-19 pandemic, labor issues and global supply chain disruptions for creating “significant financial strain” for his company in meeting targets and keeping the project staffed. It has said it required an additional $2.4 billion to complete Golden Pass LNG.
Zachry Holdings Inc. Mcdermott International Exxon Mobil Corp Chiyoda International Corp John B. Zachry Marvin Isgur Qatarenergy Houston Sabine Pass Golden Pass LNG Terminal LLC San Antonio Southeast Texas U.S. Japan Golden Pass LNG Covid
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