Magnolia LNG Secures Funding for LNG Export Project; Requests Additional FTA Export Authority

Magnolia LNG announced that it has entered into an Equity Commitment Agreement with Stonepeak Partners LP to provide 100% of the construction equity for the first phase of the Magnolia LNG Project at Lake Charles, La. The total Stonepeak equity contribution is estimated to be US$660 million, for which Stonepeak will receive an approximate 50% interest in the Magnolia LNG Project. Read more in the press release.

In a related development, Magnolia LNG filed an application with the U.S. Department of Energy for authority to export an additional 0.54 Bcf/day (approximately 4 million metric tons per year) of LNG from its proposed Lake Charles terminal to nations with a Free Trade Agreement (FTA) with the United States. This volume is in addition to the 4 mtpy Magnolia is already authorized to export to FTA nations. Magnolia’s application can be found here.

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