CB&I announced it has been awarded a contract valued at nearly $200 million by Venture Global LNG, a U.S. based liquefied natural gas (LNG) export company, for the engineering, procurement and construction of two LNG storage tanks for the company's Calcasieu Pass export facility located in Southwest Louisiana.

Venture Global's Calcasieu Pass is expected to produce 10.0 million tonnes per annum (MTPA) of cost-competitive LNG supply. The facility's design will use a liquefaction system with 18 mid-scale modular trains driven by electric motors to achieve optimum efficiency and reliability. CB&I will provide, on a turn-key basis, two single-containment LNG storage tanks. Construction of the tanks is expected to begin in 2018.

"CB&I has an established track record of successfully executing LNG storage projects both in the U.S. Gulf Coast region and around the world," said Luke V. Scorsone, Executive Vice President of CB&I's Fabrication Services operating group. "Our ability to deliver certainty of outcome provides Venture Global with a cost-effective, low-risk solution for the Calcasieu Pass facility."

Bob Pender, Venture Global LNG co-CEO announced, "We are pleased to have an agreement with the premiere LNG tank contractor in the world." Co-CEO Mike Sabel added, "We collaborated to develop a detailed scope and agreement that gives us confidence in the CB&I solution."

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.

About Venture Global LNG

Venture Global LNG plans to be a long-term, low-cost producer of LNG, capitalizing on low-cost natural gas production in the U.S. Venture Global is developing LNG export terminals at both Calcasieu Pass and Plaquemines, totaling 30 MTPA of anticipated nameplate capacity.