CB&I Wins EPC Contract for LNG Terminal Expansion in U.K.

abarrelfullabarrelfull wrote on 04 Dec 2012 08:37

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March 31, 2005

CB&I (NYSE: CBI) has been awarded a lump-sum turnkey contract with a value estimated between US$470 - $500 million for the expansion of a liquefied natural gas (LNG) import terminal at the Isle of Grain, Kent, U.K. The facility will be owned and operated by Grain LNG Ltd., a subsidiary of National Grid Transco plc.

Located on the River Medway about 20 miles east of central London, the Isle of Grain facility was originally commissioned in 1982 as an LNG peak shaving plant. In the first phase of the project, the facility is being converted to an LNG import terminal with an initial capacity of 3.3 million tonnes of LNG per year.

The second phase of the project, for which CB&I has complete engineering, procurement and construction (EPC) responsibility, will increase the terminal's capacity to 9.8 million tonnes per year, which equates to some 12 percent of the United Kingdom's annual natural gas demand. CB&I's work scope includes an increase in the regasification and sendout capacity to 1 billion cubic feet per day, increased boil-off gas handling capacity, three full containment 190,000 cubic meter LNG storage tanks, a new control and administration facility, and associated systems. The project is scheduled to be completed in mid-2008.

"We are pleased to have been selected by Grain LNG for this project," said Gerald M. Glenn, CB&I's Chairman, President and CEO. "Our engineering excellence, coupled with value-added concepts and an experienced EPC team, helped secure this work. We are proud to continue our role in helping to meet the future energy needs of the United Kingdom." This award makes up a portion of CB&I's first quarter 2005 new business taken as mentioned previously during the Company's fourth quarter 2004 earnings conference call.

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