For the paints used you'll find the color I used and the Citadel equivalent in brackets.  Personally I use cheap craft paints and find them just as good for terrain as the Games Workshop paints but I know some people who only use GW stuff hence the citadel colors.
Paints used:
Black basecoat [Chaos Black]
FolkArt Medium Grey  [Codex Grey]
Delta Ceramcoat Quaker Grey Grey [Fortress Grey]
FolkArt Metallic Silver Sterling [Mithril Silver]
Delta Ceramcoat Bright Yellow [Sunburst Yellow]
Testor's Dullcote Flat clear coat

Step one: basecoat the entire piece black

Step Two: 
Dry brush the Dark Grey

Step Three:
Paint the pipes silver.  It is easier to paint the silver now and do the dry brushing than to try to do the dry brush and prevent the silver from messing up your dry brushing.

Step Four:
Dry brush the light grey

Step Five:
Paint the Hazard Strip.  To do this strip I took a printout of the strips and cut out the yellow to make a stencil.  You can download the template I used in Microsoft Word format by clicking HERE

Step Six:
spray a clear coat acrylic to seal the piece and protect your paint job from routine handling.  There's no picture of this step because it looks the same as in Step Five .