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Chicago Bridge & Iron (CBI): CC JV Receives Feed Contract For Facility In Republic Of Mozambique

 December 24, 2012 09:09 AM
 


(By Balaseshan) Chicago Bridge & Iron Co. N.V. (NYSE: CBI) said CC JV, a joint venture comprising of CBI and Chiyoda Corp., has received a feed contract for onshore natural gas liquefaction facility project in the Republic of Mozambique.

CC JV has been awarded a contract for the Front End Engineering and Design (FEED) for the onshore natural gas liquefaction facility project in an LNG park in the Cabo Delgado Province of northern area of the Republic of Mozambique by Anadarko Moçambique Area 1 Limitada.

The company said the project has the potential to expand its capacity up to approximately 50 million metric tonnes per annum (mmtpa) of LNG in the future.

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The FEED will deliver designs for the initial phase of the Mozambique LNG project of four trains each with 5 mmtpa of LNG production capacity. This project is the first LNG project in Mozambique.

The feed gas comes from offshore production facilities at Offshore Area 1, operated by Anadarko, and Offshore Area 4, operated by Eni. The first LNG cargo is targeted for 2018.

Chicago Bridge & Iron is a Netherlands-based integrated engineering, procurement and construction (EPC) services provider and process technology licensor, delivering solutions to customers primarily in the energy and natural resources industries.

CBI closed Friday's regular session at $45.32. The stock has been trading between $32.48 and $47.74 for the past 52 weeks.

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