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Magnolia LNG Executes EPC Contract with KBR SK JV
Liquefied Natural Gas Limited (ASX: LNG; OTC ADR: LNGLY) (LNGL or the Company) is pleased to advise that its wholly owned subsidiary, Magnolia LNG LLC (Magnolia), has agreed a legally binding lump sum turnkey (LSTK) engineering, procurement and construction contract (EPC Contract) with the KBR‐SKE&C joint venture (KSJV) in relation to the Magnolia LNG project (MLNG)
  
Contract Highlights:

- EPC Contract LSTK cost of US$4.354 billion for four LNG trains and associated facilities
- EPC guaranteed production of 7.6 mtpa, or 0.8 mtpa greater than previous guidance
- The EPC Contract LSTK plant design utilises LNGL’s patented OSMR® technology  
- Installed capacity cost/tonne range of US$495 to US$544 based on final design at FID
- LNG plant fuel gas consumption of 8%, or 92% feed gas production efficiency guaranteed
- EPC Contract LSTK price is valid to 30 April 2016

The EPC Contract covers the engineering, procurement and construction of four LNG production trains with design capacity of 2 mtpa or greater each, two 160,000m3 full containment storage tanks, LNG marine and ship loading facilities, supporting infrastructure and all required post‐FID approvals and licenses.

On 24 August 2015, MLNG announced selection of the Siemens Energy Inc. (Siemens) process compression and driver equipment.    The increased power available from the Siemens equipment potentially enables higher final plant design capacity which, following completion of remaining engineering and analysis, will be confirmed prior to Final Investment Decision (FID).  As a result, MLNG’s per tonne EPC cost may reduce within the range of US$495/tonne ‐ US$544/tonne based on the final installed capacity design.

The EPC guaranteed production totalling 7.6 mtpa for the four‐train MLNG project will not change.

The KSJV also provided pricing on a reduced (three train) project scope.  The take out cost for one train, estimated by KSJV at US$630 million, is subject to final confirmation by 31 December 2015.

About Magnolia LNG
 
MLNG is 100% owned by Magnolia, which is wholly owned by LNGL. The greenfield project comprises an 8 mtpa or greater plant on a 115‐acre site, located on an established LNG shipping channel in the Lake Charles District, State of Louisiana, USA. The design is based on four LNG production trains of 2 mtpa or greater, each using the Company’s OSMR® LNG process technology.

Feed gas supply for the 8 mtpa or greater project will come from the US Gulf Coast gas market via several gas suppliers, delivered via the Kinder Morgan Louisiana Pipeline (KMLP) under a 20‐year binding pipeline capacity agreement with Kinder Morgan Louisiana Pipeline LLC.

FERC issued the project’s final environmental impact statement (FEIS) and the associated Kinder Morgan Louisiana Pipeline (KMLP) Lake Charles Expansion Project on 13 November 2015. The next step in the FERC process is for the FERC Commissioners to act on MLNG’s and KMLP’s respective applications. U.S. law requires that FERC wait at least 30 days following the issuance of an FEIS before making a decision.  Once the 30‐day period has elapsed, FERC may then issue an order on the applications.

MLNG signed a binding agreement with Meridian LNG Holdings Corp for firm capacity rights for up to 2 mtpa on 22 July 2015.  MLNG continues negotiations with a number of other LNG buyers for the purchase of LNG on 20‐year terms (with extension options).

About Liquefied Natural Gas

LNGL is an ASX listed company (Code: LNG and OTC ADR: LNGLY) whose portfolio consists of
100% ownership of the following companies:

- Magnolia, a US‐based subsidiary, which is developing an 8 mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation (Bear Head LNG), a Canadian based subsidiary, which is developing an 8 mtpa or greater LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;  
- Gladstone LNG Pty Ltd, a subsidiary which plans to develop the 3.5 mtpa Fisherman’s Landing LNG (FLLNG) Project at the Port of Gladstone in Queensland, Australia; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company’s OSMR® LNG liquefaction process, a mid‐scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.


Origine : Communiqué Liquefied Natural Gas Limited

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