Texas LNG plant contractor files bankruptcy


Problems at the construction site of a large Texas liquefied natural gas plant.

Zachry Holdings, the lead contractor for the plant being built by Qatar Energy and Exxon Mobil, filed for Chapter 11 bankruptcy protection on Tuesday. The firm shared most of the $10 billion project called Golden Pass LNG.

Reports indicated it was pursuing what it called a “structured exit.” The filing also prompted Exxon to review the timing of construction.

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