Magnolia LNG is an 8mtpa LNG export terminal development project located on the Industrial Canal near Lake Charles in Southwest Louisiana
US-based energy and infrastructure development and management firm, Glenfarne Group has acquired Magnolia LNG through Glenfarne’s newly formed subsidiary Magnolia LNG.
Magnolia LNG is an eight million tonnes per annum (mtpa) LNG export terminal development project in Louisiana, US that has already secured Federal Energy Regulatory Commission (FERC) approval.
Situated on the Industrial Canal near Lake Charles in Southwest Louisiana, the 115-acre project has a long-term Lease Option Agreement in place with the Lake Charles Harbor and Terminal District.
It also has permission to receive natural gas from the existing Kinder Morgan Louisiana Pipeline (KMLP) and will pretreat, liquefy and store the LNG onsite for export and domestic purpose.
KMLP is interconnected with several pipeline systems, including the ANR, Transco, Columbia Gulf, TETCO, Texas Gas, and Pine Prairie pipelines to procure gas from the US Gulf Coast states.
The acquisition increases Glenfarne’s LNG export capacity to about 12 mtpa
Under the transaction, Glenfarne has also acquired Magnolia LNG’s patented optimised single mixed refrigerant (OSMR) liquefaction technology.
The technology is a low-cost, highly efficient process which is configured to generate lower greenhouse gas (GHG) emissions compared to other conventional LNG processes.
Glenfarne founder and managing partner Brendan Duval said: “Magnolia LNG is a well-known and high-quality project to which Glenfarne brings its funding, marketing, development and construction expertise to take it to Final Investment Decision, and then construct and operate the asset.
“We believe in the essential role that natural gas plays in the transition to a lower carbon world. The facility will provide clean, low-cost and reliable energy globally, and we are proud to support this critical infrastructure project.”
The firm said that the acquisition increases Glenfarne’s LNG export capacity to about 12 mtpa, of which 4mtpa will come from Texas LNG Brownsville, which is a late-stage LNG export development project in Brownsville, Texas.