Fluor loses court decision in Santos Gladstone LNG dispute

Fluor Corporation (NYSE: FLR) acknowledged that the Supreme Court of Queensland ruled in favor of Santos on August 8 regarding a legal dispute over the Gladstone LNG project in Queensland, Australia.

The court accepted recommendations from a panel of referees it had appointed to oversee the case, despite Fluor's objections. The dispute began in 2016 when Santos sought to recover costs related to a reimbursable project that Fluor completed in 2015.

A final judgment is not expected until later this year, with the court scheduled to hear additional arguments and input from both parties before making its determination.

Fluor stated it is reviewing the court decision and exploring its response, including the timing of a potential appeal. The company said it is working with insurance carriers to address obligations that may arise from the final judgment.

The Irving, Texas-based engineering and construction company maintains that the contracting principles addressed by the court have significant implications for the broader engineering and construction industry.

Fluor reported revenue of $16.3 billion in 2024 and employs approximately 27,000 people globally, according to the company's statement.

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