Liquefied Natural Gas Limited said that the Gladstone Ports Corporation Limited (GPC) has granted a three month extension to the site agreement to lease at LNGL’s Fisherman’s Landing LNG project on the mainland at Gladstone Queensland, Australia, from 30 June 2014 to 30 September 2014.
The extension follows a company submission on the status of gas supply for the first LNG train that will produce a guaranteed 1.5 million tonnes per annum of LNG (mtpa) and a nameplate capacity of 1.9 mtpa.
Company Managing Director and Chief Executive Officer Maurice Brand said that he anticipated being able to provide further information on gas supply during the third quarter of
2014. Whilst the project has been on hold since March 2010, all approvals are in place to recommence construction once gas has been secured and banking agreements re‐established.
“We are appreciative that the Board of GPC has granted a further extension. The Company accepts that if we are unable to provide substantial further progress on gas supply during the
next quarter, then the Board of GPC will reconsider again in late September 2014 any further extensions based on the progress made, “ said Brand.
Press Release, June 30, 2014