XLU - Sempra Rethinks Bechtel For Cameron LNG Expansion As Costs Surge: Report | Benzinga
Sempra (NYSE:SRE) is reportedly revisiting its selection of Bechtel Energy to build the Cameron LNG expansion project in Louisiana owing to higher construction costs.
The Sempra-Bechtel pricing dispute reflects a broader increase in construction and labor costs, which has affected several U.S. LNG export projects under development and is threatening to delay others further, reported Reuters.
The report cited one of the people familiar with the matter, saying that Sempra “has gone back out for an EPC (engineering procurement and construction) contractor for its expansion project.”
“High ...