Perth, Australia - Liquefied Natural Gas Ltd. (ASX:LNG) (FRA:LI5) (OTCMKTS:LNGLY) has extended the validity period of its current binding engineering, procurement, and construction (EPC) contract with KSJV (a KBR - SKE&C joint venture led by KBR) for its 100% owned subsidiary, Magnolia LNG LLC (Magnolia LNG). The binding lump sum turnkey (LSTK) EPC US$4.623 billion contract providing an installed EPC cost/tonne of US$525 is now valid through June 30, 2020.
The agreement incorporates the 0.8 million tonnes per annum (mtpa) capacity uplift for Magnolia, which has received a draft Supplemental Environmental Impact Statement (SEIS) from the Federal Energy Regulatory Commission (FERC), for a total installed capacity of 8.8 mtpa. FERC is expected to complete its regulatory review of Magnolia's capacity uplift early next year.
About Liquefied Natural Gas Ltd:
Liquefied Natural Gas Ltd. (ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
Mr. Micah Hirschfield Sr. Manager, Communications and Investor Relations Liquefied Natural Gas Ltd. T: +1-713-815-6920 E: mhirschfield@lnglimited.com Mr. Andrew Gould Joint Company Secretary Liquefied Natural Gas Ltd. T: +61-8-9366-3700 E: AGould@lnglimited.com.au
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Perth, Australia - Liquefied Natural Gas Ltd. (ASX:LNG) (FRA:LI5) (OTCMKTS:LNGLY) has extended the validity period of its current binding engineering, procurement, and construction (EPC) contract with KSJV (a KBR - SKE&C joint venture led by KBR) for its 100% owned subsidiary, Magnolia LNG LLC (Magnolia LNG). The binding lump sum turnkey (LSTK) EPC US$4.623 billion contract providing an installed EPC cost/tonne of US$525 is now valid through June 30, 2020.
