Chiyoda Corporation is pleased to announce that Chiyoda International Corporation (CIC), a U.S. based wholly-owned subsidiary of Chiyoda and its joint venture partner on the project, McDermott International, Inc. has reached an agreement with Cameron LNG related to the construction of the Cameron LNG liquefaction project in Hackberry, LA.

The agreement includes the following key components.

- Provides new incentive bonus payments for achieving construction and commissioning milestones on specified dates for Trains 2 and 3.
- Aligns the start dates for any schedule – related liquidated damages to be consistent with the current schedule.
- Fully aligns and strengthens the commitment of CCJV to complete the project in accordance with the current schedule.

In the last few months, the joint venture between CIC and McDermott has reached several remarkable milestones including first liquid and first cargo from Train 1, and in accordance with the conditions of the agreement, the joint venture will execute the project safely and in a timely manner.

Cameron LNG is jointly owned by affiliates of Sempra LNG, LLC, Total, Mitsui & Co. Ltd. and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK).

About Chiyoda

Chiyoda Corporation (TSE: 6366; ISIN: JP3528600004), headquartered in Yokohama, Japan provides services in the fields of engineering, procurement and construction on a global basis for petroleum refineries, petrochemical complexes, other hydrocarbon or industrial plants, particularly LNG plants in the USA, South East Asia, the Oceania regions, the Middle East and Russia.

About McDermott

McDermott (NYSE: MDR) is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally focused and globally-integrated resources include approximately 32,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.

About Sempra Enery

Sempra Energy utility and infrastructure companies are on a collective mission to build North America’s premier energy infrastructure company. Every day, our companies work to develop new ideas, solve problems and reliably meet the needs of our employees, customers and the communities we serve. This approach is sustainable – it will help us meet the energy demands of tens of millions of customers for generations to come.