LNG Ltd has announced that it remains hopeful that a final investment decision for its Magnolia LNG project will be brought to the board of directors in early 2019.
Magnolia LNG LLC, a US-based subsidiary of LNG Ltd, is developing an 8 million tpy or greater LNG export terminal, in the Port of Lake Charles, Louisiana, US.
In addition, LNG Ltd’s Canadian subsidiary, Bear Head LNG Corp. Inc., is developing an 8 – 12 million tpy LNG export terminal in Richmond County, Nova Scotia, Canada.
On 27 September 2018, LNG Ltd. announced that Magnolia LNG and Meridian LNG Holdings Corp. agreed extension of the financial close date of their legally binding 2.0 million tpy offtake agreement to 31 December 2018. All other provisions of the governing agreements not specifically amended by this extension remain in full force and effect.
On 17 July 2018, Bear Head LNG LLC signed a Memorandum of Agreement (MOA) with the Nova Scotia Construction Labour Relations Association Ltd and Cape Breton Building and Construction Trades. The MOA ensured access to the skilled workforce needed for Bear Head’s proposed LNG facility on the Strait of Canso in Richmond County.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/29102018/lng-ltd-provides-update-on-export-terminal-projects/