FERC gives Magnolia LNG OK for initial site work 🔓

The Federal Energy Regulatory Commission has granted a notice to proceed to Magnolia LNG for an liquefied natural gas export facility at Lake Charles, La.

The agency’s approval means the company can begin initial site preparation for the $4.3 billion project, Kallanish Energy reports.

The approval “demonstrates the project’s readiness,” said John Baguley, CEO of Magnolia, a subsidiary of Australia-based Liquefied Natural Gas Ltd (LNGL).

The company must still issue a final investment decision, which is linked to getting sufficient LNG offtake agreements, said Greg Vesey, director of CEO of LNGL, in a statement.

The facility is designed to handle up to 8 million metric tonnes per year. Shipments could begin in 2019. FERC 13 months ago approved the facility.

Liquefied Natural Gas Ltd. is also developing LNG facilities in eastern Canada and Australia.

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