Australia-based LNG Limited has again extended the validity period of its current binding engineering, procurement, and construction (EPC) contract with the KBR-led joint venture, KSJV, for its Magnolia LNG export project in the US.
The lump sum turnkey contract worth $4.35 billion is now valid through June 30, 2019, LNG Limited said on Thursday.
The initial agreement with KSJV, a KBR – SKE&C joint venture, was signed on November 16, 2015 with an installed capacity EPC cost/tonne range of $495 to $544 based on final design at final investment decision (FID).
Magnolia LNG “continues to be well positioned to lead the next generation of U.S. LNG export projects,” LNG Limted said.
The project is construction-ready, having secured equity financing, FERC Notice to Proceed, U.S. Department of Energy non-FTA and FTA export approval, and a LSTK EPC contract, it said.
Magnolia LNG proposes to construct and operate up to four liquefaction production trains, each with a capacity of 2.2 mtpa or greater. Construction and operation includes two 160,000-cbm full containment storage tanks, ship, barge, and truck loading facilities, and supporting infrastructure.