other material
confidence high
sentiment positive
materiality 0.65
Venture Global enters EPC contract with Worley for CP2 Phase 2 LNG project
Venture Global, Inc.
- Contract covers design, procurement, construction management for Phase 2 of CP2 LNG export facility.
- Worley must integrate equipment from other vendors and guarantee full operation of the facility.
- Worley provides warranties including serial defect remedy and performance test obligations.
- Target price is reimbursable costs plus margin; subject to change orders for scope or schedule.
- Worley has milestone and schedule-driven bonus incentives to promote timely completion.