LNG

A US bankruptcy court has confirmed a reorganization plan for the Emas Chiyoda Subsea venture partly owned by Japanese engineering and construction company Chiyoda, the main competitor to Bechtel of the US in building LNG liquefaction and export plants.

Chiyoda Corp. of Japan, one of the leading global liquefied natural gas engineering and construction companies, has taken a $335 million hit on the setting up of its first subsea business in 2016.