THE WOODLANDS, Texas,
March 17, 2014 /PRNewswire/
-- CB&I (NYSE: CBI) and Chiyoda Corporation (TSE: 6366;
ISIN: JP3528600004) today announced the joint venture between
CB&I and Chiyoda International Corporation, a U.S. based
wholly-owned subsidiary of Chiyoda, has been awarded a contract
valued at approximately $6 billion by
Cameron LNG, LLC (Cameron) to
construct the Cameron Liquefaction Project in Hackberry, La.
The scope of work includes engineering, procurement and
construction for the addition of natural gas liquefaction and
export facilities to the existing LNG regasification facility. The
Cameron Liquefaction Project will be comprised of three
liquefaction trains with a nameplate capacity of approximately 13.5
million tons per year of LNG. In February
2014, Cameron received
conditional authorization from the U.S. Department of Energy (DOE)
to export domestically produced LNG to countries that do not have a
free trade agreement with the U.S., including those in Europe and Asia.
"With more than 50 years of experience in the LNG industry,
CB&I has a long history of successfully executing LNG projects
all over the world," said Philip K.
Asherman, CB&I's President and Chief Executive Officer.
"This new award builds on our strong presence along the U.S. Gulf
Coast, including Louisiana. This
project will utilize a large number of engineering and construction
craft workers, and we feel fortunate to be able to contribute to
both the growth in jobs and the infrastructure in the state."
"Chiyoda is a leading contractor for designing and constructing
LNG plants, accounting for more than 40 percent of the world's
total LNG production capacity," said Shogo
Shibuya, Chiyoda's President and Chief Executive Officer.
"Chiyoda has been accelerating its involvement in the development
of LNG projects in North America,
based on its innovative plant design and world-class project
execution capabilities, with a relentless drive for safety and
contributing to the local community."
"The selection of CB&I and Chiyoda as contractors represents
another significant milestone in the development of Cameron LNG
liquefaction-export project," said Octavio
M. Simoes, Sempra LNG's President. "The engineering,
procurement and construction companies we've selected have the
qualifications to build large liquefaction and energy
infrastructure projects as well as a firm commitment to support our
project's neighbors in southwest Louisiana."
The project will create approximately 3,000 on-site jobs, as
well as several hundred jobs at CB&I's fabrication facilities
in Louisiana and several hundred engineering and project
management jobs in the company's Baton
Rouge, La., office to support the design, fabrication and
construction of the facilities.
Subject to a final investment decision, finalization of permits
and securing financing, Sempra Energy (NYSE: SRE) will have an
indirect 50.2-percent ownership interest in Cameron and the related
liquefaction project. The remaining portion of Cameron and the related liquefaction project
will be owned by affiliates of GDF SUEZ S.A. (GDF SUEZ), Mitsubishi
Corporation (through a related company jointly established with
Nippon Yusen Kabushiki Kaisha (NYK)) and Mitsui & Co., Ltd.
(Mitsui), each with 16.6-percent stakes.
About CB&I
CB&I (NYSE: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.
About Chiyoda
Chiyoda Corporation, headquartered in Yokohama, Japan provides services in the
fields of engineering, procurement and construction on a global
basis for gas processing, refineries and other hydrocarbon or
industrial plant projects, particularly gas value chain projects,
in South East Asia, the Oceania
regions, the Middle East and
Russia.
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.
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SOURCE CB&I
