LNG Limited, through its 100% owned project company, Magnolia LNG LLC, and Meridian LNG Holdings Corp have mutually agreed not to extend the deadline for satisfaction of the conditions precedent to the liquefaction tolling agreement beyond the current date of 31 December 2018.
Magnolia and Meridian LNG’s original agreement was executed on 22 July 2015. The two companies have since entered into six extensions.
“LNG Limited is appreciative of the relationship we have enjoyed with Meridian LNG. However, this decision allows us to free up desired capacity from Magnolia LNG for offtakers that are more closely aligned with Magnolia’s development needs,” said Greg Vesey, Managing Director and Chief Executive Officer, LNG Limited.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21122018/lng-limited-does-not-extend-meridian-agreement/