CB&I and McDermott International announced that they have entered into a business transaction agreement valued $ 6 billion, under which the two companies will combine in an all-stock transaction. The combination will create a fully vertically integrated onshore-offshore company with a broad engineering, procurement, construction and installation service offering and technology portfolio. CB&I also announced that it has been awarded a contract by IGP Methanol LLC.
The Woodlands/USA — The scope of work at IGP Methanol's plant in Louisiana includes Feed services to produce a binding lump sum price for the Gulf Coast Methanol complex to be located in Myrtle Grove. The complex will consist of four identical methanol trains and associated utilities. Each methanol train will have a capacity of 1.8 million tons per year of methanol production from natural gas. The Feed contract also includes terms for exclusive selection of CB&I for the engineering, procurement and construction (EPC) of each of the four methanol trains.
The Louisiana Department of Environmental Quality (LDEQ) issued a Title V air-quality operating permit for the grassroots complex on Jan. 4, 2018. When complete, Gulf Coast Methanol will produce 7.2 million tons of methanol per year, making it the world's largest permitted methanol production facility.
Alongside the selection of CB&I as its Feed and EPC contractor, IGP and its partners in China and the US have selected project partners for natural gas supply, gas transportation, oxygen and nitrogen supply, as well as storage and loading.