CB&I Awarded Contract for Five LNG Storage Tanks at Caturus' Commonwealth LNG Facility USA - English USA - English

THE WOODLANDS, Texas, May 27, 2026 /PRNewswire/ -- CB&I today announced it has received a significant* lump sum contract award and full notice to proceed from Technip Energies on behalf of Caturus for the engineering, procurement, fabrication, construction, and pre-commissioning of five (5) 50,000 cubic meter full containment concrete LNG storage tanks for the Commonwealth LNG project. The project is a planned 9.5 million tonnes per annum (Mtpa) LNG export terminal being built in Cameron, Louisiana.

"CB&I is honored to support Caturus' Commonwealth LNG project with this award of five LNG storage tanks," said Mark Butts, CB&I President and Chief Executive Officer. "With more than 250 LNG tanks designed and built worldwide throughout our history, our team brings unmatched experience, deep technical expertise, and a proven ability to safely deliver complex storage solutions at scale. We appreciate the trust placed in us by Technip Energies and Caturus and are proud to contribute to a project that strengthens U.S. energy leadership and advances global energy security and resilience through reliable, responsibly sourced natural gas."

The award includes foundation design and construction, piping to grade, and LNG tank top platforms. CB&I's scope of work will be executed from its Houston-area and Plainfield, Illinois offices, with construction expected to begin in the third quarter of 2026 and mechanical completion targeted for 2029.

*CB&I defines a significant contract as between USD $250 million and $500 million.

About CB&I

CB&I delivers integrated storage and asset‑management solutions that help customers operate safely, reliably, and efficiently across the lifecycle of their facilities. Through our two global business units – Storage Solutions, the world leader in tanks, terminals, and storage systems, and Asset Solutions, a leading provider of operations, management, wells and decommissioning services – we combine technical excellence with execution capability to extend asset life, optimize performance, and maximize value. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

Forward-Looking Statements

CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I's management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.

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