Mangolia LNG executes servitude deal with Turners Bay
Liquefied Natural Gas Limited’s unit Magnolia LNG executed a dredging servitude agreement with Turners Bay, for the right to deposit dredge spoils on on certain tracts of land located in Calcasieu Parish, Louisiana.
The Turners Bay servitude property was originally secured under an option agreement in 2015 under the premise that dredged material generated by the Magnolia LNG project would be used to safeguard the remaining marsh and semi-enclose, and therefore protect Turners Bay by restoring marsh and the estuarine habitat.
Magnolia LNG, a US‐based unit of LNG Limited, is proposing to construct and operate up to four liquefaction production trains, each with a capacity of 2 mtpa. The construction includes two 160,000-cbm storage tanks, ship, barge, and truck loading facilities, and supporting infrastructure.
LNG Limited is yet to reach the financial investment decision for the project, adding the construction would begin once enough offtake agreements supporting the financing are executed.