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Update on the Fisherman's Landing LNG Project Gladstone
Liquefied Natural Gas Limited (LNGL or the Company) announced that its 100% owned subsidiary, Gladstone LNG Pty Ltd, owner of the Fisherman’s Landing LNG project (FLLNG or FLLNG Project) has:

- Extended the FLLNG Site Agreement for Lease with the Gladstone Ports Corporation (GPC) to 31 March 2016 for A$1 million   
- Received extension to 31 December 2017 for completion of construction of the FLLNG Project from the Queensland Government

The extension consideration reflectsthe existing option provision within the GPC Site Agreement for Lease. There were no other changes to the Site Agreement for Lease originally signed on 4 May 2010.

The Queensland Government’s Department of Natural Resources and Mines extended the dates for completion of the FLLNG Project construction under Petroleum Facility Licence No. 18 (PFL 18) and the Petroleum Pipeline Licence No. 161 (PPL 161).  PFL 18 was extended from 31 October 2014 to 31 December 2017 and PPL 161 was extended one year to 31 December 2017.

LNGL continues to investigate opportunities for gas feed stock to FLLNG and discussions with potential LNG buyerssupplying the Asian market are ongoing.  No significant capital commitment to FLLNG will occur until binding agreements for gas supply and offtake are materially advanced.
   
Personnel resources associated with the Magnolia LNG and Bear Head LNG Projects are independent of the FLLNG Project.

LNGL will consider all project financing options and strategic partnerships including the possible sale of a minority interest in FLLNG.

The Company’s Managing Director, Maurice Brand said, “The extension of the Site Agreement for Lease with the Gladstone Ports Corporation, and the extension of the dates for completion of construction in the PFL 18 and PPL 161 licenses associated with the proposed LNG Facility at Fishman’s Landing, Gladstone, are steps towards recommencing the development of the FLLNG Project”.

Mr Brand further said, “The Board’s decision to continue progressing the FLLNG Project will not compromise delivery of Magnolia LNG Financial Close or progress on the development of Bear Head LNG.  Shareholders should be aware precedent steps need to be finalised before material FLLNG activity recommences including execution of legally binding contracts for: (i) gas sales agreement; (ii) offtake agreement; (iii) engineering, procurement, construction and commissioning services; and (iv) procuring project financing (both equity and debt)”.

About the Fisherman’s Landing LNG Project (FLLNG)

The FLLNG Project comprises the development of a mid‐scale, 3.8 mtpa liquefied LNG plant on a 24ha mainland site in the Port of Gladstone in Queensland, Australia. The plant will treat and liquefy gas into LNG for loading onto LNG ships for export.
The Company has received all necessary approvals for a 3 mtpa plant and will be submitting applications for the required approvals to increase the LNG plant production capacity to 3.8 mtpa in the future.

In October 2009, the Company commenced construction at the FLLNG site. In March 2010, the Company placed FLLNG on hold following the announcement of the acquisition of the project’s gas supplier, Arrow Energy Ltd, by PetroChina and Shell, The Company plans to develop the FLLNG project in two stages, with Stage 1 comprising a 21 km gas pipeline, LNG processing train (Train 1), 180,000m3 LNG storage tank and jetty/ship loading facilities for up to 153,000m3 LNG ships. Stage 1 will have a guaranteed LNG production capacity of 1.5 mtpa and a design capacity of 1.9 mtpa.

Stage 2 will comprise a second LNG processing train (Train 2), which will double the LNG design capacity to 3.8 mtpa. No additional LNG storage tank capacity or jetty/ship loading facilities will be required for Train 2. The site has the potential for further expansion, subject to all necessary approvals.

About Liquefied Natural Gas Limited

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

- Magnolia LNG LLC (Magnolia LNG), a US‐based wholly owned subsidiary of LNGL, which is developing an 8 million tonne per annum (mtpa) LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation (Bear Head), a Canadian based wholly owned subsidiary of LNGL, which is developing an 8 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Gladstone LNG Pty Ltd, a wholly owned subsidiary, which is progressing the 3.8 mtpa Fisherman’s Landing LNG (FLLNG) Project at the Port of Gladstone in Queensland, Australia; and
- LNG Technology Pty Ltd, a wholly owned subsidiary, which owns and develops the Company’s OSMR® LNG liquefaction process, a mid‐scale LNG business model that plansto deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.


See the site of of the Fisherman’s Landing LNG project


Origine : Communiqué Liquefied Natural Gas Limited

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