KTJV, a KBR Joint Venture, Selected for Transformative Lake Charles LNG Project

News provided by

Sep 19, 2024, 16:15 ET

HOUSTON, Sept. 19, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today that KTJV, a KBR and Technip Energies joint venture, has been selected by Lake Charles LNG Export Company, a subsidiary of Energy Transfer LP, for its Lake Charles LNG transformation project.

Under the terms of the agreement, KTJV will provide high-end engineering, procurement, construction management, construction, commissioning, startup and other related services, subject to Lake Charles LNG's decision to issue a notice to proceed for the project.

The project would transform Energy Transfer's existing import facility into a world-class LNG export facility to meet the world's growing LNG and energy security demands. This conversion would include the delivery of three liquefaction trains and modifications to existing storage and dock facilities designed to enable the export of 16.45 metric tons per annum of LNG.

"KBR is proud to work with Energy Transfer and Lake Charles LNG to support the development of this world-class LNG facility alongside our joint venture partner," said Stuart Bradie, KBR President and CEO. "Lake Charles LNG will help bolster global energy security and it will be designed to be one of the most efficient and cleanest operating facilities in the United States. Lake Charles LNG is yet another example of how we are committed to helping our clients accomplish their business objectives in line with our strategy and lower-risk business model."

"Lake Charles LNG is pleased to obtain the commitment of two world-class companies to be the engineering, procurement and construction contractor for our liquefaction project," Tom Mason, President of Lake Charles LNG. "The structure of the contract provides alignment between KTJV and Lake Charles LNG to achieve a high-quality, cost-effective project. Our determination to issue a notice to proceed under the contract will be subject to our making a final investment decision to proceed with the project, which will be based upon obtaining commercial offtake commitments and third-part equity sufficient to satisfy our internal objectives. We believe that our alignment with KTJV is one more positive step in our continuing progress on the project."

KBR has nearly 50 years of experience designing, developing and supporting LNG facilities. This deep domain knowledge, combined with our JV partners' expertise, makes KTJV ideally suited to support this crucial project.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 36,000 people performing diverse, complex and mission-critical roles in 33 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding our strategy, business risks, project outcomes, costs, design performance and Energy Transfer's potential issuance of a notice to proceed, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE KBR, Inc.