Australia’s LNG Limited said that its 8 Mtpa Magnolia LNG project in the United States is on target for first LNG production in 2018.
The Magnolia project in Louisiana, Port of Lake Charles, is being designed to comprise four LNG trains, each of 2 mtpa design capacity and guaranteed 1.7 mtpa firm production capacity.
According to LNG Limited, advanced talks continue with two parties for 4 mtpa with anticipated contract closings once the third parties sign their customer agreements, which will occur after 31 March.
The company 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.
LNG Limited’s Managing Director and Magnolia LNG President, Maurice Brand said, “ In order to assist Magnolia LNG management to ensure the above timetable is realized and Magnolia achieves financial close in 2015, I will be relocating to Houston at the end of April 2015.
“ This will also enable me to work more closely with the Houston‐based Company CFO, Michael Mott on various corporate matters including the proposed dual share listing on ASX and NYSE, as well as with the Bear Head project team to achieve financial close for that project in 2016 ”, said Brand.
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LNG World News Staff; Image: Magnolia LNG