CB&I Announces Award for Multi-Purpose LNG Storage and Fueling Terminal

THE WOODLANDS, Texas, Nov. 29, 2016 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract valued in excess of $200 million by Puget Sound Energy, Inc. (PSE) for the engineering, procurement, fabrication and construction of a multi-purpose Liquefied Natural Gas (LNG) storage and fueling terminal in Tacoma, Washington. The scope of work includes a 30,000 cubic meter full containment storage tank, liquefier and vaporizer. The facility will provide peak shaving, marine bunkering and truck loading capabilities.

"CB&I and PSE have a historical relationship, and we are pleased to be working with them on this project," said Luke Scorsone, CB&I's Executive Vice President of Fabrication Services. "We are proud to have been selected to design and build this multi-purpose LNG facility. CB&I has a leading position across all aspects of the LNG industry, and we look forward to helping PSE deliver dependable, affordable natural gas service to transportation companies as well as residential and commercial customers."

About CB&I

CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With over 125 years of experience and the expertise of more than 40,000 employees, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com. 

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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, 2015, 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.

Investors: Scott Lamb, +1 832 513 1068, [email protected] 
Media: Gentry Brann, +1 832 513 1031, [email protected]

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SOURCE CB&I

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