Magnolia LNG Project Progress with FERC
Liquefied Natural Gas Limited w ishes 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 submitted on the requested date its full and complete response to the FERC Engineering Data information request. 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 terminalsin 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.
The Engineering Data Information response represents a majorstep in the FERC Filing process, and is usually one of the final information requests sought by FERC before the issue of a Notice of Schedule and DEIS.
LNGL Managing Director and CEO, Mr Maurice Brand, said that the Magnolia LNG team and consultants had submitted a response to all 103 data requests from FERC. 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 now well placed to achieve its primary goal to achieve Financial Close in mid‐2015 and first LNG in 2018” said Mr Brand.