Liquefied Natural Gas 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 EPC USD 4.623bn contract providing an installed EPC cost/tonne of USD 525 is now valid through June 30, 2020.
The agreement incorporates the 0.8 million tonnes per annum (mtpa) capacity uplift for Magnolia, which has received a draft Supplemental Environmental Impact Statement from the Federal Energy Regulatory Commission (FERC), for a total installed capacity of 8.8 mtpa. FERC is expected to complete its regulatory review of Magnolia’s capacity uplift early next year.
