Cameron LNG Announces Settlement Agreement with CCJV Regarding Liquefaction Project Construction

HOUSTON–(BUSINESS WIRE)–Today Cameron LNG announced that it has reached a settlement agreement
with CCJV regarding the construction of the three-train LNG liquefaction
project in Hackberry, Louisiana. CCJV is a joint venture between
affiliates of Chicago Bridge & Iron Company N.V. and Chiyoda Corporation.

The settlement is subject to satisfaction of certain conditions and
resolves all outstanding matters with CCJV and better positions the
parties in achieving the joint goal of having all three liquefaction
trains producing LNG in 2019.

The settlement falls within the existing construction budget and
financing commitments for the project and creates a constructive path
for all parties to focus on placing the project into service with
incentives for the contractor to achieve the schedule.

“We are pleased to have resolved all outstanding matters with CCJV so
all efforts can be focused on the safe and successful completion of the
project as we get closer to commissioning and start of operations,” said
Farhad Ahrabi, Chief Executive Officer of Cameron LNG.

Cameron LNG is jointly owned by affiliates of Sempra LNG & Midstream,
ENGIE (formerly GDF SUEZ), Mitsui & Co. Ltd. and Japan LNG Investment,
LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen
Kabushiki Kaisha (NYK).

This news release contains statements that are not historical fact
and constitute forward-looking statements. These statements can be
identified by words like “expects”, “will”, “may”, “plans”, “intends” or
similar expressions. Forward-looking statements are not guarantees of
performance. They involve risks, uncertainties and assumptions. Future
results may differ materially from those expressed in the
forward-looking statements. Forward-looking statements are
necessarily based upon various assumptions involving judgments with
respect to the future and other risks, including, among others: local,
regional, national and international economic, competitive, political,
legislative and regulatory conditions and developments; actions and the
timing of actions, including issuances of permits to construct and
licenses for operation, by the U.S. Department of Energy, Federal Energy
Regulatory Commission and other regulatory, governmental and
environmental bodies in the United States; the timing and success of
business development efforts and construction, maintenance and capital
projects, including risks in obtaining, maintaining or extending
permits, licenses, certificates and other authorizations on a timely
basis and risks, in obtaining adequate and competitive financing for
such projects; energy markets, including the timing and extent of
changes and volatility in commodity prices, and the impact of any
protracted reduction in oil prices from historical averages; capital
markets conditions, including the availability of credit, interest and
currency exchange rates; weather conditions, natural disasters,
catastrophic accidents, and other events that may damage our facilities
and systems; business, regulatory, environmental and legal decisions and
requirements; and other uncertainties, all of which are difficult to
predict and many of which are beyond our control.

Contacts

Cameron LNG Public Affairs
Anya McInnis, +1 713-249-0451
[email protected]