Magnolia LNG to Finalize Equity Finance Agreements with Stonepeak Partners

Magnolia LNG (MLNG) announced that equity finance definitive agreements with Stonepeak Partners, LP (Stonepeak) for the proposed Magnolia LNG export terminal at Lake Charles, La. are expected to be finalized and executed in October 2013. The Equity Agreements provide for Stonepeak to provide 100% of the Magnolia LNG Project’s estimated equity requirement of US$660 million at Financial Close. Based on the current Magnolia LNG Project financial model, Stonepeak would acquire an approximate 50% equity interest in MLNG, with LNG Limited retaining an approximate 50% equity interest. According to the press release, the terminal project is progressing on schedule.

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