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 November 24, 2015 - 6:50 AM EST
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KBR Awarded Contract for G2 LNG's Grassroots LNG Liquefaction Facility in Louisiana

HOUSTON November 24, 2015 - KBR Inc. (NYSE: KBR) announced today that the company has been awarded a contract by G2 LNG, LLC (G2 LNG). The contract is to provide Federal Energy Regulatory Commission (FERC) Front End Engineering Design (FEED) engineering and FERC report pre-filing services to support the development of a grassroots Liquid Natural Gas (LNG) facility of fourteen million metric tons per year of liquefaction and export capabilities in Cameron Parish on the Calcasieu Ship Channel in Louisiana.

Under the terms of the contract, KBR will perform FEED engineering for a two train LNG facility using Air Products and Chemicals, Inc. AP-C3MR(TM) Technology. Additionally, KBR will provide the technical documentation required by the FERC during the pre-filing process.

Considered a world leader in LNG, KBR has been involved in the design, engineering and construction worldwide of LNG plants for nearly 40 years. This contract builds on that legacy and demonstrates KBR's continued success winning the right work.

The proposed design employs state of the art aeroderivative gas turbines and other process enhancements to maximize each train's design capacity and represents a new generation design.

"KBR will combine our history as a leader in the LNG industry with our experience as a cutting edge innovator to deliver a world class product for our client," said Roy Oelking, KBR President of E&C Americas. "We welcome the opportunity to work with a company like G2 LNG who values innovation as much as we do."

"We are proud to work with a proven industry leader like KBR," said Thomas Hudson, President of G2 LNG.  "KBR's vast experience in the LNG industry will prove invaluable to making this project a reality."

Revenue associated with this project was not disclosed and was booked into backlog of unfilled orders for KBR's E&C Business Segment in Q2 2015.

About KBR, Inc.

KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,000 people worldwide with customers in more than 70 countries and operations in 40 countries across three distinct global businesses:

  • Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through subsidiaries Granherne, Energo and GVA
  • Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
  • Government Services, including program management and long term annuity contracts

KBR is proud to work with its customers across the globe to provide technology, value-added consulting services, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.


Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Zac Nagle
Vice President, Investor Relations

Marit Babin
Director, Global Communications & Government Relations

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via Globenewswire


Source: Thomson Reuters ONE (November 24, 2015 - 6:50 AM EST)

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