LNG Limited 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. The binding lump sum turnkey (LSTK) EPC US$4.354 billion contract is now valid through 30 June 2019.
The initial agreement with KSJV was signed on 16 November 2015 with an installed capacity EPC cost/tonne range of US$495 to US$544 based on final design at final investment decision (FID).
Magnolia LNG continues to be well positioned to lead the next generation of US LNG export projects. The project is construction-ready, having secured equity financing, FERC ‘notice to proceed’, US Department of Energy (DOE) non-FTA and FTA export approval, and a LSTK EPC contract.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20122018/magnolia-lng-epc-contract-extended/