Australia Markets open in 44 mins

Liquefied Natural Gas Ltd (ASX:LNG) Magnolia LNG EPC Contract Extended

Perth, Australia, Nov 25, 2019 - (ABN Newswire) - Liquefied Natural Gas Limited (ASX:LNG.AX - News) (HAM:LI5.HM - News) (OTCMKTS:LNGLY - News) 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$4.623 billion contract providing an installed EPC cost/tonne of US$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 (SEIS) 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.


About Liquefied Natural Gas Ltd:

Liquefied Natural Gas Limited (ASX:LNG.AX - News) (OTCMKTS:LNGLY - News) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:

- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;

- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 - 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;

- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and

- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.

Contact:

Mr. Micah Hirschfield
Sr. Manager, Communications and Investor Relations
Liquefied Natural Gas Limited
T: +1-713-815-6920
E: mhirschfield@lnglimited.com

Mr. Andrew Gould
Joint Company Secretary
Liquefied Natural Gas Limited
T: +61-8-9366-3700
E: AGould@lnglimited.com.au

Source:

Liquefied Natural Gas Ltd

Copyright (C) 2019 ABN Newswire. All rights reserved.