Magnolia LNG Signs Term Sheet with LNG Holdings Corp.
Posted on Nov 26, 2013 in LNG Exports, Markets and Competition | Comments Off on Magnolia LNG Signs Term Sheet with LNG Holdings Corp.
Magnolia LNG, L.L.C. (Magnolia) announced that it has signed a Tolling Term Sheet with LNG Holdings Corp. providing for negotiation of a proposed 20-year Tolling Agreement covering 1.7 million tonnes per year of LNG production from Magnolia’s proposed LNG export terminal at Lake Charles, La. Under the proposed Tolling Agreement, LNG Holdings will be responsible for delivery of gas to the Magnolia Project for liquefaction, storage, and delivery onto LNG ships arranged or designated by LNG Holdings. Magnolia states that it anticipates receiving final U.S. federal and state permitting in 2015, commencement of construction in 2015, and initial start‐up of operations in mid‐2018.