Petronas - Australia Gladstone LNG Ink MoU

The Directors of Liquefied Natural Gas Ltd inked down a Technology Memorandum of Understanding with SK Engineering and Construction (SKEC) for the framework for SKEC and the Company to establish a technology joint venture. The JV is 50% each for between LNG (which is partly-owned by Malaysian O&G PETRONAS) and another 50% for SKEC.

The agreement focuses on:

• Completion of the final design of the OSMRTM process technology for inclusion in the Gladstone LNG Project front end engineering and design (FEED) package
• OSMRTM process technology license to the Gladstone LNG Project process guarantee.
• Colloboration for commercialisation of the OSMRTM process technology including development, marketing and LNG related processes.