(Alliance News) - InfraStrata PLC on Wednesday said it has extended the exclusivity period for developing a floating gas unit in the UK for Meridian Holdings Co to March 20.
The floating storage regasification and reloading unit project involves developing a floating liquified natural gas receiving port offshore Barrow-in-Furness, Cumbria, in northwest England. The floating unit is designed to deliver re-gasified volumes of natural gas directly into the UK market via its National Transmission System interconnection at Barrow-in-Furness.
The infrastructure projects developer said due diligence conducted so far on the project has yielded positive results and the extended period will now enable InfraStrata to conduct a more detailed technical, commercial and regulatory assessment of the project and determine its critical parameters including capital expenditure.
Discussions with South Korean and Japanese companies interested in partnering to construct the float unit continue to progress, the company said. InfraStrata also remains in talks with global LNG trading houses who have expressed interest in entering into long term capacity offtake agreements.
InfraStrata shares were down 3.9% at 0.31 pence each in London on Wednesday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.