Foster Wheeler Awarded Contract for an LNG Receiving Terminal in India

Foster Wheeler AG (Nasdaq: FWLT) has announced that its India subsidiary, Foster Wheeler India Private Limited, part of its Global Engineering and Construction Group, has been awarded a contract for a new LNG receiving terminal to be built in Ennore, in the state of Tamil Nadu, India. The contract was awarded by India’s national oil company, Indian Oil Corporation Limited (IOCL).

The Foster Wheeler contract value for this project was not disclosed and will be included in the company’s fourth-quarter 2011 bookings.

Foster Wheeler’s scope of work includes basic design, front-end engineering design, and the preparation of capital and operating cost estimates for the new LNG import, storage and regasification terminal, which will be designed to process five million tonnes per annum of LNG. Foster Wheeler’s scope also includes marine studies to enable IOCL to finalize the jetty location, utilities, and regasified LNG send-out facilities. The LNG terminal facilities are planned for completion by 2015-16.

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements. More information about the risks and uncertainties relating to the company’s forward-looking statements is found in the company’s SEC filings.