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Magnolia LNG EPC contract extended

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LNG Industry,

LNG Limited (LNGL) 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$4.623 billion, contract providing an installed EPC cost/tonne of US$525 is now valid through 30 June 2020.

The agreement incorporates the 0.8 million tpy capacity uplift for Magnolia, which has received a draft supplemental environmental impact statement (SEIS) from the US Federal Energy Regulatory Commission (FERC), for a total installed capacity of 8.8 million tpy. FERC is expected to complete its regulatory review of Magnolia’s capacity uplift early next year.

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