McDermott Executes Contract Amendment for Golden Pass LNG Trains 2 and 3

HOUSTON, Nov. 20, 2025 /PRNewswire/ -- McDermott and its joint venture partner Chiyoda International Corporation (CIC) have signed a contract amendment with Golden Pass LNG Terminal LLC (GPLNG) for the completion of Trains 2 and 3 of the Golden Pass LNG Project in Sabine Pass, Texas.

This contract amendment follows the amendment signed in November 2024 for the engineering, procurement and construction (EPC) of Train 1. In June 2025, McDermott, Chiyoda and Golden Pass LNG agreed on binding terms covering key aspects of the remaining scope of Trains 2 and 3. Under the amended agreement, McDermott will continue to act as the lead partner of the joint venture constructing the three approximately 6.0 million ton per annum (MTPA) LNG trains.

This amendment confirms the continued collaboration between the parties to deliver the project safely and efficiently.

"We remain committed to working closely with Golden Pass LNG and Chiyoda to complete this important energy infrastructure project," said Michael McKelvy, President and Chief Executive Officer of McDermott. "We look forward to continuing to apply our expertise, capabilities and best practices on Trains 2 and 3, and providing employment and development opportunities for the local community."

At peak, the project will employ approximately 9,000 people during the construction phase and over 300 people once operational.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 30 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope, timing and execution of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:
Global Media Relations
Reba Reid
+1 281 588 5636
RReid@McDermott.com

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SOURCE McDermott International, Ltd