Liquefied Natural Gas Limited (LNGL or the company) is pleased to advise that its wholly owned subsidiary, Magnolia LNG LLC (Magnolia) has received a Notice to Proceed (NTP) from the Federal Energy Regulatory Commission (FERC) to commence initial site preparation activities for the Magnolia LNG project.
"We are appreciative to FERC for the issuance of the NTP on our request for authorisation to commence initial site preparation activities. FERC's comprehensive review of our submittals and concurrence that we have complied with conditions for these initial activities as required under the 15 April 2016 FERC Order demonstrate the project's readiness", said John Baguley, Chief Operating Officer for Magnolia.
Greg Vesey, Managing Director & CEO of LNGL, added, "The FERC NTP for initial site preparation is a key milestone for the project and underscores our position as 'Shovel Ready'. Nevertheless, the pacing item for our final investment decision (FID) and initiation of construction for Magnolia remains the finalisation of our LNG offtake agreements, and our team remains fully engaged in advancing this activity".
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/08052017/magnolia-lng-receives-ferc-approval/