PERTH (miningweekly.com) – A subsidiary of ASX-listed Liquefied Natural Gas (LNG), Magnolia LNG has received regulatory approval to start production and export of natural gas from its operations in Louisiana, in the US.
The Federal Energy Regulatory Commission has authorised Magnolia to construct and operate its facilities, as well as to export domestically produced natural gas.
In addition to this approval, the Louisiana Department of Environmental Quality has also approved the air permit for the LNG project.
Magnolia was hoping to construct and operate up to four LNG production trains with a two-million-tonne-a-year capacity each. First LNG from the project was expected by 2018.
LNG MD and CEO Greg Vesey said this week that the company was pleased to have received regulatory approval for the project, adding that both were important milestones as the company progressed the Magnolia LNG project towards a final investment decision.
“Our primary focus remains to complete marketing of Magnolia LNG’s offtake capacity, finalise financing arrangements and progress towards construction," Vesey said.
In the meantime, the company was still awaiting approval from the US Department of Energy, which was processing Magnolia LNG’s application to export to countries that did not have a free trade agreement with the US.
Edited by: Creamer Media Reporter
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