LNG Limited, the Australian company developing two LNG export projects in North America, has extended the validity period of its current binding contract with KSJV for Magnolia LNG project.
The binding lump sum turnkey engineering, procurement, and construction US$4.354 billion contract with KBR– SKE&C joint venture led by KBR, is now valid through December 31, 2018.
The initial agreement with KSJV was signed on November 16, 2015, with an installed capacity EPC cost/tonne range of US$495 to US$544 based on the final design a final investment decision (FID).
LNG Limited said that Magnolia LNG is well positioned to lead the next generation of U.S. LNG export. Magnolia is the lone U.S. greenfield LNG export development project that is construction-ready, having secured equity financing and FERC Notice to Proceed, Department of Energy non-FTA and FTA export approval, and a LSTK EPC contract.
Magnolia LNG project will include up to four liquefaction production trains, each with a capacity of 2 mtpa or greater, two 160,000-cubic meter full containment storage tanks, ship, barge, and truck loading facilities, and supporting infrastructure.
The LSTK EPC contract includes all elements of the project necessary to bring the facility into full guaranteed production operations.