Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/africa/magnolia-lng-project-on-target-for-first-lng-in-20.shtmlMagnolia LNG project on target for first LNG in 2018
The Directors of Liquefied Natural Gas Limited wish to provide a general update on the development progress of its 8 million tonne per annum
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The Directors of Liquefied Natural Gas Limited wish to provide a general update on the development progress of its 8 million tonne per annum (mtpa) Magnolia LNG Project (MLNG Project), in Louisiana, United States of America (US). The MLNG Project is held through the Company's indirect 100% owned US subsidiary, Magnolia LNG, LLC (MLNG) and is being designed to comprise four LNG trains, each of 2 mtpa design capacity and guaranteed 1.7 mtpa firm production capacity.
LNG Offtake Agreements •Advanced negotiations continue with two parties for ~ 4 mtpa with anticipated contract closings once the third parties sign their customer agreements and/or receive required Board approvals, which will occur after 31 March 2015. •Magnolia LNG is confident it will close bankable offtake agreements for the full 8 mtpa of capacity, with initial LNG production from Train 1 forecasted for late 2018.
