Magnolia LNG Signs Tolling Agreement Term Sheet with AES Latin American Development
Posted on Mar 6, 2014 in LNG Exports, Markets and Competition | Comments Off on Magnolia LNG Signs Tolling Agreement Term Sheet with AES Latin American Development
Magnolia LNG (MLNG) has executed a non‐binding Tolling Agreement Term Sheet with AES Latin American Development, Ltd (AES) for LNG production capacity rights of between 800,000 and 1 million tonnes per year from MLNG’s proposed LNG export terminal at Lake Charles, La. According to the press release, AES is a Fortune 200 global power company with extensive investment in power generation throughout the Caribbean and Latin America, including the Dominican Republic, Chile, El Salvador, and Colombia, all of which have Free Trade Agreements with the United States. The Agreement details the key terms to be included in a binding tolling agreement, which the parties intend to finalize by September 30, 2014.