LNG Limited, Meridian scrap Magnolia deal

LNG Limited, Meridian scrap Magnolia dealImage courtesy of LNG Limited

Perth-based LNG Limited said the Magnolia LNG liquefaction tolling agreement signed with Meridian LNG will not be extended beyond its current date of December 31, 2018.

The company said on Friday that the parties have mutually agreed not to extend the agreement that was initially signed in July 2015 and has been extended six times since.

“LNG Limited is appreciative of the relationship we have enjoyed with Meridian LNG. However, this decision allows us to free up desired capacity from Magnolia LNG for offtakers that are more closely aligned with Magnolia’s development needs,” said Greg Vesey, managing director and CEO, LNG Limited.

The company will continue to market Magnolia LNG as it moves towards the final investment decision.

LNG Limited is proposing to build the Magnolia LNG project in the Port of Lake Charles in Louisiana, USA. The facility will include up to four 2.2 mtpa liquefaction trains, two 160,000-cbm storage tanks, truck loading facilities and supporting infrastructure.

Earlier this week, the company extended the $4.35 billion binding engineering, procurement, and construction (EPC) contract with the KBR-led joint venture, KSJV, through to June 30, 2019.

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >