Perth-based LNG Limited said its two liquefied natural gas project in North America put the company in a “strong competitive position in the mid-scale LNG industry,” and at the forefront of supplying the next wave of global LNG demand.
The company’s Magnolia LNG project, in Lake Charles, Louisiana entered the year 2018 shovel-ready, with LNG Limited still working on completing the marketing of the project’s capacity before it makes the final investment decision (FID).
The project has already acquired all the regulatory permits and once the bankable offtake is sold, it will move straight to financial close and construction, LNG Limited said in a statement.
In addition to the regulatory approvals, the company has extended the validity of its binding engineering, procurement, and construction (EPC) contract with KSJV, a joint venture between KBR and SKE&C, through June 2018.
The company’s second proposed LNG export project, the Bear Head LNG in Richmond County, Nova Scotia, Canada, has also completed its regulatory permitting process, with LNG Limited it is “a key component for an East Coast Canada export strategy.”