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CB&I (NYSE:CBI) has been awarded a contract for an LNG import terminal expansion project in Fujian Province, China, by CNOOC Fujian LNG Co. Ltd. The contract value is confidential.

CB&I's scope of work includes engineering, procurement and construction of two additional 160,000 cubic meter full containment LNG storage tanks. The project is scheduled to be completed in 2011.

"This award follows CB&I's successful completion of the first phase of the Fujian import terminal and demonstrates CNOOC's confidence in our capabilities," said Philip K. Asherman, President and CEO. "Fujian LNG is helping China meet its increasing demand for natural gas."

The initial phase of the LNG terminal, which has a capacity of 2.6 million tonnes of LNG per year and includes two 160,000 cubic meter LNG storage tanks, received first gas in April 2008.

The U.S. Energy Information Administration forecasts that China's natural gas demand will grow 6.4% per year between 2010 and 2020. By 2020, about 25% of China's natural gas demand is forecasted to be met through LNG imports.

CNOOC Fujian LNG Co. Ltd. is a co-investment of China National Offshore Oil Corporation (CNOOC) and Fujian Investment and Development Corporation.

About CB&I

CB&I combines proven process technology with global capabilities in engineering, procurement and construction to deliver comprehensive solutions to customers in the energy and natural resource industries. With more than 70 proprietary licensed technologies and 1,500 patents and patent applications, CB&I is uniquely positioned to take projects from conceptual design, through technology licensing, engineering and construction and final commissioning. Drawing upon the global expertise and local knowledge of approximately 18,000 employees in more than 80 locations, CB&I safely and reliably executes projects worldwide. For more information visit www.CBI.com. If you would like to be added to CB&I's news release email distribution list, click here.

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