Judge approves Zachry Holdings/Golden Pass LNG settlement making way for resumption of project

Published: 2024-07-24 15:45:33 ET XOM

HOUSTON, July 24 (Reuters) - A bankruptcy court on Thursday approved a Zachry Holdings and Golden Pass LNG settlement that will allow Exxon Mobil and Qatar Energy, the owners of Golden Pass LNG, to hire a new lead contractor to complete its LNG plant.

Failure to approve the order could leave thousands unemployed and negatively impact one of the largest global construction project, Judge Marvin Isgur said.

Under the order, Zachry Holdings will immediately give up control of LNG project and cannot direct vendors nor workers on what to do. (Reporting by Curtis Williams in Houston)