Liquefied Natural Gas Limited has extended the validity period of its current binding engineering, procurement, and construction contract with KSJV for its 100% owned subsidiary, Magnolia LNG, LLC. The binding lump sum turnkey EPC USD 4.354 billion contract is valid through December 31, 2018. The initial agreement with KSJV was signed on 16 November 2015 with an installed capacity EPC cost/tonne range of USD 495 to USD 544 based on final design at final investment decision (FID). Magnolia LNG is well positioned to lead the next generation of U.S. LNG export reflecting its fully de-risked status. Magnolia is the lone U.S. greenfield LNG export development project that is construction-ready, having secured equity financing, FERC Notice to Proceed, U.S. Department of Energy non-FTA and FTA export approval, and a LSTK EPC contract. Magnolia LNG proposes to construct and operate up to four liquefaction production trains, each with a capacity of 2 mtpa or greater using the Company's patented OSMR® LNG process technology. Construction and operation includes two 160,000 m3 full containment storage tanks, ship, barge, and truck loading facilities, and supporting infrastructure. The LSTK EPC contract includes all elements of the project necessary to bring the facility into full guaranteed production operations. Magnolia LNG is fully permitted, having received its FERC Order and both FTA and non-FTA approval from the DOE. Final investment decision and initiation of construction is expected upon execution of sufficient offtake agreements to support financing.