CB&I Announces Contract for LNG Export Facility

THE WOODLANDS, Texas, July 30, 2014 /PRNewswire/ -- CB&I CBI together with its partner, Chiyoda Corporation (Chiyoda), announced today it has been awarded a front end engineering design (FEED) services contract for a proposed LNG export project by Golden Pass Products, LLC (GPP). GPP is a joint venture between affiliates of Qatar Petroleum International and ExxonMobil.

The scope of work, which will be performed in conjunction with CB&I's partner Chiyoda, includes FEED services for the GPP LNG liquefaction and export facilities with a production capacity of 15.6 million tons of LNG per year (5.2 MTPA x 3 trains). The new facility will be co-located at the site of the existing LNG import terminal owned and operated by Golden Pass LNG Terminal LLC, an affiliate of GPP. CB&I and Chiyoda successfully completed the pre-FEED and engineering necessary to support Golden Pass' formal application to the Federal Energy Regulatory Commission earlier this year. CB&I performed the engineering and construction of the existing LNG import terminal, which became operational in 2010.

"This award builds on CB&I and Chiyoda's involvement in many of the major LNG projects taking place around the world," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "We look forward to continuing our strong relationship with Qatar Petroleum International and ExxonMobil, which expands on the original development of the Golden Pass Terminal."

About CB&I
CB&I CBI is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com. 

Important Information For Investors And Shareholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2013, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

Logo - http://photos.prnewswire.com/prnh/20130430/DA04155LOGO

SOURCE CB&I