LNG

Dec 19 (LNGJ) - McDermott International, the US LNG and energy engineering company that completed the takeover of rival firm CB&I in May 2018, has signed a lease for a new corporate headquarters in Houston for 1,700 employees currently dispersed across five locations in the Houston area. McDermott said it would move to Energy Center Five, an 18-story, 524,000-square-foot office tower located at 915 North Eldridge Parkway and will be the sole tenant in the building. “The new, state-of-the-art building will enhance collaboration and productivity among our employees and drive efficiency and cost savings for the company,” said David Dickson, McDermott's President and Chief Executive. “We are also staying in Houston's Energy Corridor, which is strategic for McDermott given the close proximity to many of our customers and partners,” added the CEO. McDermott plans to begin operations from the new building in the third quarter of 2019.

McDermott International, the energy and liquefied natural gas project engineer, has completed a strategic review of its portfolio and has decided to spin-off and sell its LNG tanks business and its US pipe fabrication unit.