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 (Magnolia LNG). The binding lump sum turnkey (LSTK) EPC US$4.354 billion contract is now valid through 30 June 2018.
LNGL Managing Director and Chief Executive officer, Greg Vesey, said, “KSJV is one of our key and valued partners, and we appreciate their continuous support. Our EPC contract with KSJV is an important component of the overall de-risked position of the project.”
“KSJV is proud to partner with LNG Limited on this important project,” said Stuart Bradie, KBR President and CEO. “We welcome the opportunity to continue applying our experience with major, complex projects to achieve successful completion of this innovative midscale LNG facility.”
The initial agreement with KSJV was signed on 16 November 2015 with an installed capacity EPC cost/t range of US$495 to US$544 based on final design at final investment decision (FID).
