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McDermott, Saipem to Partner in Bid for Next Decade

Source: www.gulfoilandgas.com 10/29/2018, Location: North America

McDermott International, Inc. (MDR) plans to partner with the Italian oil and gas industry contractor Saipem S.p.A. to bid for NextDecade's planned Rio Grande LNG project in Brownsville, Texas.

"Our joint bid with Saipem will feature optimized execution strategies that result in increased certainty on schedule and cost as compared to other LNG projects on the U.S. Gulf Coast," said David Dickson, President and Chief Executive Officer of McDermott. "Pursuant to Next Decade's competitive process, we plan to submit our joint EPC proposal in the second quarter of 2019."

Next Decade has previously disclosed it expects to achieve a final investment decision on the project in the third quarter of 2019.

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