McDermott plans to partner with Saipem for Rio Grande LNG project

McDermott International, Inc. today announced that it 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 NextDecade's competitive process, we plan to submit our joint EPC proposal in the second quarter of 2019."

In May of this year McDermott announced that it completed its combination with CB&I creating an integrated provider of technology, engineering and construction solutions for the energy industry.

NextDecade intends to develop a 27 mtpa Rio Grande LNG export facility in Brownsville, Texas. NextDecade has previously disclosed it expects to achieve a final investment decision on the project in the third quarter of 2019.