LNG Limited: Magnolia LNG extends EPC contract pricing validity period

Liquefied Natural Gas Limited informed on Tuesday that its unit, Magnolia LNG, has extended the validity period of the EPC contract price signed with KSJV until December 31, 2016. 

According to the company statement, Magnolia LNG signed the initial US$4.35 billion lump sum turnkey contract with the KBR – SKE&C joint venture for four liquefaction trains and associated facilities.

The initial deal has a lump sum turnkey EPC contract price validity through April 30, 2016. The new agreement extends the period for additional eight months, LNG Limited said.

Magnolia LNG proposes to construct and operate up to four liquefaction production trains, each with a capacity of 2 mtpa or greater. The construction also includes two 160,000 cbm full containment storage tanks, ship, barge and truck loading facilities, and supporting infrastructure.

The project is currently awaiting the US Department of Energy’s decision on its application to export LNG to countries that do not have the free trade agreement with the United States.

The Federal Energy Regulatory Commission has recently granted a permit to Magnolia LNG to site, construct, and operate its LNG terminal in the Lake Charles District, Louisiana.

LNG World News Staff