Quarterly Highlights
Perth, Jan 31, 2019 AEST (ABN Newswire) - Liquefied Natural Gas Ltd (
ASX:LNG) (LNGLY:OTCMKTS) provides the Company's Quarterly Highlights and Appendix 4C.
QUARTER HIGHLIGHTS
Magnolia LNG:
- On November 19, 2018, Magnolia LNG, LLC filed an application with the US Federal Energy Regulatory Commission (FERC) for a limited amendment to increase the authorized capacity of the facility from 8.0 mtpa to 8.8 mtpa.
- On December 21, 2018, LNG Limited announced that its 100% owned project company, Magnolia LNG LLC, and Meridian LNG Holdings Corp have mutually agreed not to extend the deadline for satisfaction of the conditions precedent to the Liquefaction Tolling Agreement beyond the current date of December 31, 2018.
- On December 20, 2018, LNG Limited announced an extension of the validity period of its current binding EPC contract with KSJV and Magnolia LNG. The binding lump sum turnkey (LSTK) EPC US$4.354 billion contract is now valid through June 30, 2019. The initial agreement with KSJV was signed on 16 November 2015 with an installed capacity EPC cost/tonne range of US$495 to US$544 based on final design at final investment decision (FID).
- On December 31, 2018, Magnolia LNG LLC filed an application with Department of Energy (DOE) Office of Fossil Energy to increase the quantity of authorized exports of domestically produced LNG up to 8.8 to non-free trade agreement and free trade agreement nations.
Bear Head LNG:
- During this quarter, Bear Head LNG continued to market capacity primarily to major Western Canadian Sedimentary Basin producers and address gas path solution opportunities with Canadian pipeline companies.
OSMR(R) Process Technology
- LNGL continued to examine technical improvements in the OSMR(R) technology and plant modular design to further reduce costs.
- The Company continues to engage with third-parties interested in using the OSMR(R) technology in their projects.
To view the full release, please visit:
http://abnnewswire.net/lnk/36H0OWI4
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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