Magnolia LNG Update on Progress with FERC
Liquefied Natural Gas Limited wishes to provide an update on the status of Information Requests from the United States Federal Energy Regulatory Commission (FERC) in relation to the Company’s wholly owned subsidiary, Magnolia LNG LLC (MLNG).
The Company is pleased to report that it has submitted a further response to FERC’s Engineering Data request covering additional geotechnical‐seismic items.
As noted in previous releases, these information requests are part of the normal process for applications filed under Sections 3 and 7 of the Natural Gas Act for LNG terminals in the United States, and allows FERC to clarify certain aspects of the filings to assist them to complete and issue a draft Environmental Impact Statement (DEIS) for the Magnolia LNG project.
LNGL Managing Director and CEO, Mr Maurice Brand, said that the Magnolia LNG team and consultants had been advised that a further two requests will be made shortly. We continue to make solid progress to finalise the FERC Filing process and the targeted issue of a Notice of Schedule in early 2015.
“The FERC process continues to run in parallel with the Company moving towards a bankable EPC contract and long term Tolling Agreements. Magnolia LNG is well placed to achieve its primary goal to achieve Financial Close in mid‐2015 and first LNG in 2018” said Mr Brand.