Magnolia LNG Files with FERC for Louisiana Project

Magnolia LNG has filed an application with the US Federal Energy Regulatory Commission seeking authorization for the siting, construction, ownership and operation of the proposed Magnolia LNG Project.

This project is located along the Calcasieu River, near Lake Charles, Louisiana, United States of America.

The FERC filing follows extensive work performed by the LNGL and Magnolia LNG teams on Front End Engineering Design (FEED), pre‐filing consultation and preparation of 13 draft Resource Reports for FERC. The work, which has been ongoing since early 2013, also has involved consultation with other federal, state and local agencies, such as the Louisiana Department of Environmental Quality, U.S. Department of Transportation and the U.S. Coast Guard.

Magnolia LNG anticipates receiving all approvals during 2015. Such approvals will be a key requirement for financial close. Construction will commence shortly thereafter with first LNG exports planned for the second half of 2018.

The project will provide a direct benefit for the local southwest Louisiana economy, resulting in 70 direct jobs, 175 indirect jobs and up to 1,000 jobs during the construction phase of the first two trains.

The company’s Managing Director, Maurice Brand, said “This is a significant milestone for the Magnolia LNG Project, placing it among a small group of projects to have formally filed an application with FERC. We are committed to meeting all FERC safety and environmental requirements during construction and operation and anticipate Financial Close of the Project in mid‐2015. The Magnolia LNG Project will bring jobs and economic growth to southwest Louisiana.”

“Moving forward, FERC will prepare an Environmental Impact Statement to satisfy the National Environmental Policy Act with the input of the public and other cooperating agencies. Our regulatory team looks forward to working with FERC and other agencies in this process.”

“During this time, the focus of LNG Limited’s and Magnolia LNG’s management teams will be to deliver a bankable EPC contract and finalize legally binding Liquefaction Tolling Agreements with counterparties,” said Brand.

Press Release, May 01, 2014; Image: LNG Ltd.

 

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