Company News Summary
Liquefied Natural Gas Extends Validity of EPS Contract
Original announcement: MAGNOLIA LNG FURTHER EXTENDS VALIDITY OF EPC CONTRACT
Liquefied Natural Gas advised that its 100% owned subsidiary, Magnolia LNG, has agreed with KSJV to further extend the validity period of the signed engineering, procurement, and construction (EPC) contract through 30 June 2017. As previously announced on 26 April 2016, Magnolia and KSJV, a KBR - SKE&C JV lead by KBR, had extended their original 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 current extension agreement maintains validity for a further six months, inclusive of January 2017, to 30 June 2017.
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