CB&I Congratulates the Cameron LNG Liquefaction Project Sponsors on Final Investment Decision
THE WOODLANDS, Texas, Aug. 7, 2014 /PRNewswire/ -- CB&I (NYSE: CBI) congratulates the Cameron liquefaction project sponsors for approving a final investment decision for the development, construction and operation of the natural gas liquefaction and export project planned at the site of Sempra Energy's Cameron LNG receipt terminal in Hackberry, La. The sponsors are Sempra LNG, GDF SUEZ S.A., Mitsui & Co., Ltd. and Mitsubishi Corporation through a related company jointly established with Nippon Yusen Kabushiki Kaisha.
The three-train natural gas liquefaction facilities will have an export capability of 12 million tonnes per annum of liquefied natural gas (LNG), or approximately 1.7 billion cubic feet per day. Subject to final regulatory approval, satisfaction of conditions of the initial equity funding and first disbursement of the financing, construction on the project is expected to begin later this year. All three trains are expected to commence operations during 2018, with the first full year of operations in 2019.
"CCJV, a joint venture contractor of CB&I and Chiyoda International Corporation for the project, congratulates Sempra and the Cameron liquefaction project sponsors on the approval of the final investment decision," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "This decision is a significant milestone for the Cameron liquefaction project and we look forward to starting construction on the project soon."
CB&I (NYSE: CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
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, 2013, 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.