Magnolia LNG signs Gas Pipeline Interconnect Agreement
Sydney, Jan 28, 2015 AEST (ABN Newswire) - Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) (LNGL or the Company) is pleased to advise that its wholly owned subsidiary, Magnolia LNG LLC (MLNG), has executed a Gas Pipeline Interconnect Agreement (PIA) with Kinder Morgan Louisiana Pipeline LLC, (KMLP) that sets out the technical scope and specifications for gas supply to the Magnolia LNG Plant. The PIA defines each parties' obligations in relation to the design, procurement, construction, installation, operations, maintenance and ownership of the facilities.
LNGL Managing Director and Chief Executive Officer, Maurice Brand, said that "the Kinder Morgan Louisiana Pipeline is an existing interstate gas pipeline system that traverses the Magnolia LNG Plant site. Magnolia has already entered into a legally binding agreement with KMLP to access 1.4 bcf/day of capacity over a 20-year term. This capacity is sufficient for Magnolia LNG to produce its full 8 mtpa design capacity."
About Kinder Morgan, Inc (NYSE:KMI)
Kinder Morgan is the largest midstream and the fourth largest energy company (based on combined enterprise value) in North America, with an enterprise value of more than US$125 billion. The Company has an interest in or operates approximately 80,000 miles of pipeline and 180 terminals. Their pipelines transport natural gas, refined petroleum products, crude oil, carbon dioxide (C02) and more. The Company also stores or handles a variety of products and materials at their terminals such as gasoline, jet fuel, ethanol, coal, petroleum coke and steel.
or further information about Kinder Morgan, please refer to their website:
http://www.kindermorgan.com
To view photographs, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-LNG-707414.pdf
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight 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 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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