LONDON, UK / ACCESSWIRE / July 7, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Chicago Bridge & Iron Co. N.V. (NYSE: CBI) (CB&I), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CBI. The Company announced on July 05, 2017, that it had bagged an engineering, procurement, and construction (EPC) contract for two liquefied natural gas (LNG) storage tanks from Venture Global LNG. The storage tanks are meant for Venture Global's Calcasieu Pass export facility located in Southwest Louisiana. The value of the contract is approximately $200 million. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the bagging of the contract from Venture Global, Luke V. Scorsone, Executive Vice President of Fabrication Services Operating Group at CB&I said:

"CB&I has an established track record of successfully executing LNG storage projects both in the US Gulf Coast region and around the world. Our ability to deliver certainty of outcome provides Venture Global with a cost-effective, low-risk solution for the Calcasieu Pass facility."

Bob Pender, Co-CEO of Venture Global LNG added:

"We are pleased to have an agreement with the premiere LNG tank contractor in the world."

Mike Sabel, Co-CEO of Venture Global LNG responded:

"We collaborated to develop a detailed scope and agreement that gives us confidence in the CB&I solution."

Details of the EPC contract

The current contract is with regards to Venture Global's Calcasieu Pass facility, which is expected to produce 10 million tonnes per annum (MTPA) of LNG. The facility's design will use a liquefaction system with 18 mid-scale modular trains driven by electric motors to achieve optimum efficiency and reliability. As per the contract, CB&I will provide two single-containment LNG storage tanks at this facility. The turn-key project will see CB&I constructing the LNG storage tanks from FY18.

About CB&I

Chicago Bridge & Iron Co. is a global specialty engineering and construction Company that designs and constructs energy infrastructure projects such as liquefied natural gas storage, petrochemical and gas processing plants, and heat transfer equipment. Its business is divided into three major verticals - Oil, Gas & Chemicals; Power; and Industrial Storage. The Company is backed by over 125 years of expertise in its area of operations and has a global team of over 40,000 employees.

About Venture Global LNG

Venture Global plans to be the provider of long-term, low-cost American-produced liquefied natural gas. Venture Global is developing two LNG export terminals at Calcasieu Pass and in Plaquemines Parish both located in Louisiana. The first LNG terminal is a 10 MTPA Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico. The second LNG terminal is a 20 MTPA LNG facility in Plaquemines Parish, Louisiana on an approximately 630-acre site at river mile marker 55 on the Mississippi River, which is approximately 30 miles south of New Orleans, Louisiana. In February 2017, Venture Global roped in GE Oil & Gas as a strategic partner to provide technical solutions for both its LNG terminals. Venture Global has already put in place funding of over $361 million for the development of the LNG terminals. The Company plans to start commercial operations for Calcasieu Pass by 2021.

Last Close Stock Review

On Thursday, July 06, 2017, the stock closed the trading session at $17.73, tumbling 8.18% from its previous closing price of $19.31. A total volume of 8.28 million shares has exchanged hands, which was higher than the 3-month average volume of 5.52 million shares. Chicago Bridge & Iron's stock price advanced 2.60% in the last one month. The stock has a dividend yield of 1.58% and currently has a market cap of $1.95 billion.

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