Liquefied Natural Gas Ltd (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 wholly owned subsidiary, Magnolia LNG, LLC (Magnolia). The binding lump sum turnkey (LSTK) EPC contract is now valid through December 2017.
LNGL Managing Director and Chief Executive Officer, Greg Vesey, stated: “The extension of our agreement with KBR-SK E&C provides us with additional confidence as we focus on finalizing offtake agreements and moving toward a final investment decision (FID) for Magnolia, while we also maintain Magnolia’s standing as the low cost, low risk, construction ready Gulf Coast LNG export project.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/13062017/magnolia-lng-contract-extended/