CB&I Wins Award for Gas Storage Project in Qatar.

THE WOODLANDS, Texas -- CB&I (NYSE:CBI) has been awarded a lump-sum turnkey contract valued in excess of US$150 million to engineer and construct multiple tanks for the storage of liquefied petroleum gas (LPG) and gas condensate. The project is located in Ras Laffan Industrial City in Qatar.

The new tanks will provide common LPG and gas condensate storage in Ras Laffan Industrial City which will be jointly owned and used by multiple LPG producing entities. The additional storage is needed to accommodate increased capacity within Qatar to produce and process natural gas and its marketable components.

CB&I's work scope encompasses the engineering, procurement, fabrication and construction of two double-wall steel full containment LPG tanks, 14 floating roof tanks for gas condensate storage and one caustic storage tank. CB&I also will be responsible for the foundations, as well as piping, electrical and instrumentation.

This latest award builds on CB&I's previous work in Ras Laffan Industrial City. The LPG tanks will be among the largest the Company has built in the Middle East, a region that continues to offer significant opportunities for natural gas-related projects.

CB&I executes on average more than 700 projects each year and is one of the world's leading engineering, procurement and construction (EPC) companies, specializing in lump-sum turnkey projects for customers that produce, process, store and distribute the world's natural resources. With more than 60 locations and approximately 11,000 employees throughout the world, CB&I capitalizes on its global expertise and local knowledge to safely and reliably deliver projects virtually anywhere. Information about CB&I is available at www.CBI.com.