"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 Liquefied Natural Gas Ltd
- 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 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; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company’s OSMR(R) 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.
Liquefied Natural Gas Ltd