LNG Limited to add third LNG project in North America
Liquefied Natural Gas Limited of Australia is eyeing a third liquefaction project in North America.
LNG Limited’s Managing Director Maurice Brand said the company is looking to “unlock further value” but not until it delivers further milestones with the Magnolia LNG project, one of which is the FERC DEIS that the company expects to receive by the end of the year.
The company is looking to “execute the legally binding lump sum turn-key EPC contract with SK E&C following completion of FEED, as well as executing legally binding tolling agreements for the supply of 4 mtpa of LNG,” stands in the shareholders report.
There are general milestones the company wants to achieve and Brand broke these into three sections, one of which is a corporate office in Houston which is close to completion. It already reached one of the goals with the appointment of Paul J. Cavicchi as a non-executive director of the company.
To add to that appointment, “LNG Limited also wants to add couple of additional management officials to help the company develop North American opportunities,” said Brand in a shareholders presentation.
As a third target, the company intends to unlock further shareholder value.
LNG World News Staff, September 24, 2014; Image: LNG Limited