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United States : LNGL's unit extends EPC contract with KSJV
Publish Date : 03-Feb-2017
Liquefied Natural Gas' (LNGL) fully owned unit Magnolia LNG (MLNG) and KSJV, a KBRSKE&C joint venture lead by KBR, has decided to extend the validity period of the engineering, procurement, and construction (EPC) contract through to 30 June 2017.
Earlier on 26 April 2016, it was announced that Magnolia and KSJV had extended its actual binding lump sum turnkey (LSTK) EPC contract for four LNG trains and associated facilities until 31 December 2016, with a subsequent interim extension to 31 January, 2017.
This existing extension agreement has validity for an additional six months, from January to 30 June.
LNGL managing director and chief executive officer Greg Vesey said, We continue to work closely with key contractors and suppliers such as KSJV to maintain momentum on the Magnolia LNG project as we continue our marketing efforts.
This further extension of our LSTK EPC Contract with KBR-SK E&C, together with our FERC Final Order and Department of Energy non-FTA export approval, further cements Magnolia LNG as construction-ready and the next US LNG export project that will move forward into construction and operation.
Magnolia LNG plans construction and operations of up to four liquefaction production trains, with each holding a capacity of 2mtpa or more, and also use LNGLs patented OSMR LNG process technology.
Construction and operation covers two 160,000m full containment storage tanks, ship, barge, and truck loading facilities, and supporting infrastructure.
The LSTK EPC contract covers all aspects of the project necessary to bring the facility into full production.
