Perth-based LNG Limited has extended the validity period of its current engineering, procurement, and construction contract for its Magnolia LNG export project in the US.
The binding lump sum turnkey EPC contract with KSJV, a KBR and SKE&C joint venture, is now valid through December 31, 2017.
“The extension of our agreement with KBR-SK E&C provides us with additional confidence as we focus on finalizing offtake agreements and moving toward a final investment decision (FID) for Magnolia, while we also maintain Magnolia’s standing as the low cost, low risk, construction ready Gulf Coast LNG export project,” said Greg Vesey , Managing Director and Chief Executive Officer of LNG Limited.
Magnolia LNG, a US‐based unit of LNG Limited, is developing an 8 mtpa or greater LNG export terminal in the Port of Lake Charles in Louisiana.