Firm resumed stock trading after denying "corruption, illegality or bad faith" claimed by arbitration panel as it pursues millions in project payment it says it is owed by state-owned energy firm and further legal action.
U.K. contractor will deliver carbon capture units, pipeline
infrastructure and a network of wells for carbon dioxide recovery in a project set to finish in 2026.
Construction is underway, with new contracts awarded, on the first phase of Sempra Infrastructure’s $13-billion Port Arthur LNG export terminal in Texas near the Gulf of Mexico, following the energy firm’s award to Bechtel Energy of an EPC contract to manage the two-train project.
In three-year delay, companies cite “changing market conditions and subsequent high cost inflation” for drilling project after FEED contract award in April to engineers KBR and Hatch.
Enbridge Energy will issue requests for proposals in the coming weeks for contractors to construct a $500-million Great Lakes tunnel to carry crude oil and natural gas liquids through the Straits of Mackinac between Michigan and Ontario.
Work near Edson on the $10B Trans Mountain oil pipeline expansion, $1.8B expanded NGTL gas line and $1.2B Cascade Energy power plant has brought at least 2,500 workers to town, with housing scarce.
With limited prospects for a rebound in oil and gas prices in the near future, contractors in the sector say many clients are reducing capital expenditures and keeping budgets tight.
