Liquefied Natural Gas Limited says that its 100% owned subsidiary, Gladstone LNG Pty Ltd, owner of the Fisherman’s Landing LNG project (FLLNG or FLLNG Project) has:
Extended the FLLNG Site Agreement for Lease with the Gladstone Ports Corporation (GPC) to 31 March 2016 for A$1 million
Received extension to 31 December 2017 for completion of construction of the FLLNG Project from the Queensland Government
The extension consideration reflects the existing option provision within the GPC Site Agreement for Lease. There were no other changes to the Site Agreement for Lease originally signed on 4 May 2010.
The Queensland Government’s Department of Natural Resources and Mines extended the dates for completion of the FLLNG Project construction under Petroleum Facility Licence No. 18 (PFL 18) and the Petroleum Pipeline Licence No. 161 (PPL 161).
PFL 18 was extended from 31 October 2014 to 31 December 2017 and PPL 161 was extended one year to 31 December 2017. LNGL continues to investigate opportunities for gas feed stock to FLLNG and discussions with potential LNG buyers supplying the Asian market are ongoing.