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Magnolia LNG Extends Offtake Agreement Closing Date

Magnolia LNG, LLC (Magnolia) and Meridian LNG Holdings Corp have agreed to further extend the financial closing date condition precedent for their offtake agreement for LNG supplies from Magnolia’s proposed LNG terminal at Lake Charles, La. from December 31, 2016 to November 30, 2017.      

DOE Grants Magnolia LNG Non-FTA Export Authorization

The U.S. Department of Energy has issued an order authorizing Magnolia LNG, LLC to export, over a 20-year term, up to 394.2 Bcf/year of domestically produced LNG from its proposed LNG terminal near Lake Charles, La. to nations without a Free Trade Agreement (non-FTA) with the United States.  

ENGIE and AES Andres DR Agree to Joint Marketing Agreement

ENGIE and AES Andres DR, S.A. (AES Andres), a subsidiary of The AES Corporation, announced that they have agreed to enter into a 12-year binding agreement to jointly market 0.7 million tonnes per annum (mtpa) of LNG in the Caribbean.  Under the agreement, ENGIE will provide up to 0.7 mtpa of LNG, primarily from the Cameron LNG terminal in Cameron Parish, La., which is expected to come...

CME Group and ICE Planning to Launch LNG Derivatives Products

CNBC reports that CME Group and Intercontinental Exchange (ICE) both plan to launch LNG derivatives similar to internationally traded Brent and U.S. West Texas Intermediate crude oil futures. The CME Group and ICE benchmarks would be based on LNG shipments from the U.S. Gulf Coast, where Cheniere Energy operates the Sabine Pass LNG export terminal and other LNG export terminals are...

Port Arthur LNG Files FERC Application

Port Arthur LNG, LLC (Port Arthur) has filed applications with FERC for authority to construct and operate a liquefaction and LNG export terminal at the City of Port Arthur, Texas and an interconnected pipeline.  The Liquefaction Project will include two liquefaction trains each capable of producing under optimal conditions 6.73 million tonnes of LNG per annum (“MTPA”) or approximately...

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