Magnolia LNG authorised to export additional LNG volumes
The U.S. Department of Energy (DOE) has increased Magnolia LNG’s authorization to export an additional 0.8 million MTPA of LNG.
U.S. energy infrastructure firm Glenfarne Group is the owner of Magnolia LNG and Texas LNG export projects. The firm plans to develop Magnolia LNG in Lake Charles, Louisiana.
DOE has increased Magnolia LNG’s authorization to export an additional 0.8 million tonnes per annum (MTPA) of LNG to any country not prohibited by U.S. law or policy.
This approval permits the project to export its total volume of 8.8 MTPA of LNG to non-FTA countries.
”Magnolia LNG is pleased by this decision, which will support our nation’s efforts to contribute to global energy security and the energy transition at this critical time,” said Vlad Bluzer, managing director of Glenfarne Group.
Final investment decisions (FID) on both Magnolia LNG and Texas LNG are to accelerate the supply of additional LNG capacity to the global market. Significant volumes are certainly needed due to geopolitical disruptions and the increasing demand for cleaner energy sources.
Glenfarne says it remains committed to furthering the energy transition through investments in responsible energy infrastructure.
Glenfarne’s CEO and founder, Brendan Duval, said: “Magnolia LNG has a stated FID target of 2023 intended to meet Glenfarne’s internal LNG import terminal projects’ demand. However, based on Magnolia’s fully permitted position, engineering status, and current market dynamics, we have fielded inquiries to announce FID in 2022, which we are seriously considering.”
In addition, Texas LNG remains on track for an FID in 2022.