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Magnolia LNG receives FERC Notice to Proceed (NTP)
Liquefied Natural Gas Limited (LNGL or the Company) is pleased to advise that its wholly owned subsidiary, Magnolia LNG LLC (Magnolia) has received Notice to Proceed (NTP) from the Federal Energy Regulatory Commission (FERC) to commence Initial Site Preparation activities for the Magnolia LNG project.

“We are appreciative to FERC for the issuance of the NTP on our request for authorization to commence initial site preparation activities. FERC’s comprehensive review of our submittals and concurrence that we have complied with Conditions for these initial activities as required under the April 15, 2016 FERC Order demonstrate the project’s readiness”, said John Baguley, Chief Operating Officer for Magnolia.

Greg Vesey, Managing Director & CEO of LNGL, added, “The FERC NTP for initial site preparation is a key milestone for the project and underscores our position as ‘Shovel Ready’.

Nevertheless, the pacing item for our Final Investment Decision (FID) and initiation of construction for Magnolia remains the finalization of our LNG offtake agreements, and our team remains fully engaged in advancing this activity”.

About Magnolia LNG project

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.

About Liquefied Natural Gas Limited

LNGL is an ASX listed company (Code: LNG and OTC ADR: LNGLY) whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an 8 mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian based subsidiary, which is developing an 8 mtpa or greater LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG;
- Gladstone LNG Pty Ltd, a subsidiary which plans to develop the 3.5 mtpa Fisherman’s Landing LNG (FLLNG) project at the Port of Gladstone in Queensland, Australia; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company’s OSMR® LNG liquefaction process, a mid-scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.


Origine : Communiqué Liquefied Natural Gas Limited

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