Australian contractor Cimic, previously called Leighton Holdings, has pulled a newly acquired company out of finishing work on a power station for the Ichthys LNG export project under construction near Darwin in the Northern Territory and scheduled to come on stream in September 2017.

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Australian energy and liquefied natural gas engineering group Cimic, better known by its former name of Leighton Holdings, is making a takeover bid for Sydney-based construction rival UGL worth A$524 million (US$400M) as the industry runs out of LNG projects.

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Australian engineering company CIMIC Group said its disputed claim linked to cost over-runs on the construction of a 2.1-kilometres jetty at Chevron Corp.’s Gorgon LNG project on Barrow Island exceeds A$2 billion (US$1.44bln).

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