Bridge

Zurich, Switzerland-based ABB is selling its Lummus Global business to Chicago Bridge & Iron Co. (CB&I) for $950 million, the company said. Lummus provides engineering, procurement and construction management services to the upstream and downstream oil and gas, petrochemical and refining industries. The sale, which is subject to regulatory and CB&I shareholder approval, is intended to further focus ABB on its core business in power automation technology, the company said. Netherlands-based CB&I will purchase the entire Lummus Global business, which employs about 2,400 and had reported revenues of $988 million in 2006. ABB’s automation and power businesses remain committed to the oil and gas sector, the company said. In connection with the divestment of Lummus, ABB said it has discovered certain suspect payments in a number of countries. ABB reported these suspected payments to the U.S. Department of Justice and the Securities and Exchange Commission, and is cooperating fully with the authorities, while continuing its internal investigations and compliance reviews. ABB said it retains liability for potential fines and penalties.

Hunt Oil said it awarded a $1.5 billion engineering, procurement and construction (EPC) contract to Chicago Bridge & Iron (CB&I) for the Peru LNG project (PLNG) in Pampa Melchorita, Peru. The project, which is expected to provide about 4.4 million metric tons of LNG per year to the West Coast of Mexico and possibly the United States, has been given a green light to proceed by the international consortium of Hunt Oil, Spain’s Repsol and SK Corp. of Korea.

Hunt Oil said it awarded a $1.5 billion engineering, procurement and construction (EPC) contract to Chicago Bridge & Iron (CB&I) for the Peru LNG project (PLNG) in Pampa Melchorita, Peru. The project, which is expected to provide about 4.4 million metric tons of LNG per year to the West Coast of Mexico and possibly the United States, has been given a green light to proceed by the international consortium of Hunt Oil, Spain’s Repsol and SK Corp. of Korea.

Golden Pass LNG LLC awarded a $1 billion lump-sum turnkey contract to Chicago Bridge & Iron Co. (CB&I) for construction of the 2 Bcf/d Golden Pass liquefied natural gas (LNG) import facility near Sabine Pass, TX. The terminal, which will deliver regasified LNG to an ExxonMobil refinery and to the U.S. gas pipeline grid, is expected to be completed in 2009 when it will begin receiving LNG from Qatar.

Chicago Bridge & Iron Co. (CB&I) said Tuesday it was awarded a contract valued at more than $100 million for the design and construction of storage tanks for Canada’s first liquefied natural gas (LNG) import terminal.

Excelerate Energy LLC, which ramped up operations at its Gulf Gateway liquefied natural gas (LNG) Energy Bridge Deepwater Port offshore Louisiana one month ago, will file an application to build its second facility offshore Massachusetts within the next two weeks, and has begun laying plans for another one offshore California, the president said Thursday.

Excelerate Energy LLC, which ramped up operations at its Gulf Gateway liquefied natural gas (LNG) Energy Bridge Deepwater Port offshore Louisiana one month ago, will file an application to build its second offshore facility offshore Massachusetts within the next two weeks, and has begun laying plans for another one offshore California, the president said Thursday.

FERC issued a draft order last week granting a certificate for development and operation of the $750 million Sabine Pass LNG terminal in Cameron Parish, LA. With a proposed peak sendout of 2.6 Bcf/d of regasified LNG, Cheniere LNG’s Sabine Pass terminal will be the largest of the three proposed and four existing U.S. LNG terminals with FERC certificates.

FERC took initial steps last Wednesday to set up a “specific division” within its Office of External Affairs (OEA) that would reach out to and work closely with states on pressing natural gas and electric regulatory issues. The initial focus of the FERC-state partnerships will be on regional transmission organizations (RTOs), which are considered the most urgent matter facing regulators now.