LNG

Australian developer LNG Ltd has formally extended its turn-key engineering and construction contract for the Magnolia LNG export venture in Louisiana by six months until the end of 2018 as it seeks to finalize supply agreements with customers.

Woodside Petroleum, the operator of two LNG export plants in Western Australia, and Australian commodities group BHP Billiton have entered into an agreement in relation to the proposed development of the Scarborough gas field, part of which Woodside is in the process of acquiring from ExxonMobil Corp. for LNG expansion.