LNG

Chiyoda Corp., the Japanese LNG engineering company, said it was still working on its recovery plan from the more than $1 billion of losses incurred from significantly increased project construction costs, particularly at the Cameron project in Louisiana being built by Sempra Energy.

Chiyoda Corp. of Japan, one of the main builders of Middle East LNG export capacity, has signed an accord with the LNG production company of Abu Dhabi in the United Arab Emirates to provide digital technologies and analytics for its liquefaction plant.

Chiyoda Corp. President and Chief Executive Masaji Santo said he believed society’s energy needs required a mix of fuels, led by liquefied natural gas, as the Japanese engineering and construction company forecast an upturn in the industry in 2018.

March 14 (LNGJ) - Chiyoda Corp. of Japan, one of the world’s leading LNG engineering and construction companies, has overhauled its senior management after the losses and poor performance prompted by its Emas Chiyoda subsea business acquisition. Senior Executive Vice President Masaji Santo has been named as President and Chief Executive and Katsuo Nagasaka, who is currently a director and Senior Vice President, has been named executive Chairman. Senior Vice President Hirotsugu Hayashi has been appointed as the new Chief Financial Officer. Chiyoda, based in Yokohama, said nominees would be subject to final confirmation in their posts at the annual general meeting of shareholders at the end of June.