LNG

Dec 20 (LNGJ) - Liquefied Natural Gas Ltd, the developer of the Magnolia LNG export plant in Louisiana, has extended the validity period of its binding $4.35-billion engineering, procurement, and construction contract with KBR Inc. of the US and South Korea Engineering and Construction until the end of June 2018. The extension is required to allow other commercial accords to be finalized. “KSJV is one of our key and valued partners, and we appreciate their continuous support,” said LNGL Chief Executive Greg Vesey. “Our EPC contract with KSJV is an important component of the overall de-risked position of the project,” added Vesey. Stuart Bradie, KBR President and CEO, said the Magnolia project was important for the Houston-based engineering company. “We welcome the opportunity to continue applying our experience with major, complex projects to achieve successful completion of this innovative midscale LNG facility,” said Bradie.