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Magnolia LNG extends validity of EPC contract with KSJV

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LNG Industry,

LNG Limited has announced that Magnolia LNG LLC – its 100% owned subsidiary – has agreed to further extend the validity period of its engineering, procurement and construction (EPC) contract with KSJV.

The agreement will now be valid through 30 June 2017. As announced on 26 April 2016, Magnolia and KSJV – a joint venture (JV) between KBR and SKE&C (lead by KBR) – had extended their original binding lump sum turnkey (LSTK) EPC contract for four LNG trains and related facilities until 31 December 2016, with a subsequent interim extension to 31 January 2017. This latest extension will ensure that the contract remains valid for an additional six months.

Greg Vesey, LNG Limited Managing Director and CEO, said: “We continue to work closely with key contractors and suppliers such as KSJV to maintain momentum on the Magnolia LNG project as we continue our marketing efforts. This further extension of our LSTK EPC contract with KBR-SKE&C, together with our FERC final order and Department of Energy non-FTA export approval, further cements Magnolia LNG as construction-ready and the next US LNG export project that will move forward into construction and operation.”

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LNG project news US LNG news LNG export news