LNG Limited Seeks Project Finance for Magnolia LNG

LNG Limited of Australia, the developer of U.S. Magnolia LNG project, confirmed that it is in talks with BNP Paribas after The Australian newspaper on Tuesday reported that the company wa set to announce it had appointed BNP Paribas to help it secure the $US 1.54 billion debt funding required for the Magnolia LNG project.

“The Company is aware of the article and notes that it is in discussions with BNP Paribas in relation to the project finance advisor role for the Magnolia LNG Project,” LNG Limited said in a statement.

“Any project finance advisor role will be subject to a fully termed mandate letter, which the Company has not yet signed with any bank,” it added.

The Magnolia LNG project comprises up to four gas liquefaction trains, each with a guaranteed capacity of 1.7 mtpa and an estimated nameplate capacity of 2.0 mtpa.

LNG limited anticipates receiving final United States federal and state permitting in 2015, commencement of construction in 2015, and initial start‐up of operations in mid‐2018.

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LNG World News Staff, November 28, 2013; Image: LNG Ltd