CB&I and Chiyoda sign liquefied natural gas cooperation agreement


CB&I and Chiyoda sign liquefied natural gas cooperation agreement CB&I (NYSE:CBI) announced today it has signed a cooperation agreement with Chiyoda Corporation to design and build liquefied natural gas (LNG) export facilities in North America.

CB&I has a successful relationship with Chiyoda working jointly on LNG projects in Australia, Russia and East Africa. This agreement extends the companies' relationship to include North American LNG projects.

"Over the last decade, CB&I and Chiyoda have designed and built LNG projects together around the world," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "The combination of our two companies' global LNG expertise and CB&I's execution strength in North America offers our customers a proven team with unmatched capabilities."

CB&I has served the LNG industry for more than 50 years, having led or participated in more than 350 LNG projects and studies in 45 countries. Chiyoda's LNG experience represents more than a 40 percent share of the world's total installed LNG capacity. Chiyoda's involvement with CB&I in North American LNG projects will complement the strategic focus of not only the major traditional LNG players represented by the international oil companies but also of the non-traditional LNG players including the Japanese offtakers of North American produced LNG and their potential involvement as equity holders.

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