The Board of Directors of Ezion Holdings Limited announces that the Group has been awarded a fourth contract to provide full logistics and support services activities for the haulage of equipment and modules for the development of LNG facilities on Curtis Island, Queensland, Australia.
This LNG facility which is the third of the eight proposed in Queensland, Australia, has an initial capacity of 9 million tonnes per annum (Mtpa) and expected to increase production to 16 Mtpa. The Queensland government has estimated that 50 Mtpa of LNG could be produced from the Surat and Bowen Basins in Queensland that could be piped to the coast for export.
The above mentioned contract is the fourth major LNG related project that the Group has secured in Australia since 2009.
The contract value of approximately US$ 71 million is in relation to the development of the first two LNG trains. There could potentially be up to 4 LNG trains to be developed for the above mentioned project which will require similar types of logistics vessels.
The abovementioned charter is expected to commence in the 1st half of 2013 and is not expected to have a material impact on the Group’s earnings per share or net tangible assets per share for the financial year ending 31st December 2012.
Source: Ezion, August 2, 2012