JAPANESE engineering house Chiyoda is hoping for improved profitability next year after agreeing contractual revisions with the operators of the Cameron liquefied natural gas project in the US and Tangguh LNG project in Indonesia. Significant cost overruns in the delivery of engineering, procurement and construction contracts on the Cameron, Tangguh and Freeport LNG projects last year put huge financial pressure on Chiyoda, and all three projects are still ongoing.
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