NEW YORK & HOUSTON–(BUSINESS WIRE)–Glenfarne Group, LLC (“Glenfarne”), an investor, developer, owner, and operator of energy and infrastructure assets, announced today that its recently acquired Magnolia LNG export terminal development project located in Lake Charles, LA has received a five-year permit extension from the Federal Energy Regulatory Commission (“FERC”). Per the extension, Magnolia LNG will begin operations of the terminal by April 15, 2026. At the same time, FERC also extended the permit for the Kinder Morgan pipeline that will supply feed gas to Magnolia LNG.
“At 8.8 million tonnes per annum from a four train mid-scale design, we believe Magnolia LNG has the right size and scope to best compete in the current and future LNG market and is well-positioned to meet global demand starting in the middle of this decade,” said Brendan Duval, Founder and Managing Partner of Glenfarne. “Our LNG customers will transact with Magnolia LNG knowing they will receive LNG from one of the lowest-cost, most reliable, and most efficient terminals on the U.S. Gulf Coast.”
“Coming only a few months after our acquisition of Magnolia LNG, this extension approval is an important early milestone in our development plan, and it underscores our focused commitment and belief in the project,” said Vlad Bluzer, Managing Director of Glenfarne and President of Magnolia LNG Holdings, LLC.
Magnolia LNG sits on a 115-acre project site on the Industrial Canal near Lake Charles in Southwest Louisiana and has a long-term Lease Option Agreement in place with the Lake Charles Harbor and Terminal District. Magnolia LNG is permitted to receive natural gas through the existing Kinder Morgan Louisiana Pipeline and will pretreat, liquefy and store the LNG onsite for domestic use and export. Magnolia LNG will utilize the patented OSMR® liquefaction technology, a low-cost, highly efficient process configured to generate lower greenhouse gas (GHG) emissions than other conventional LNG processes.
Glenfarne has two operating subsidiaries: Alder Midstream, LLC, which focuses on building, owning, and operating midstream and LNG assets, and EnfraGen, LLC, a developer, owner, and operator of specialized power generation assets. Glenfarne’s total LNG export capacity is approximately 12.8 mtpa: 8.8 mtpa from Magnolia LNG and 4.0 mtpa from Texas LNG Brownsville, LLC, a FERC-permitted LNG export development project in Brownsville, Texas, majority-owned by Alder Midstream.
About Glenfarne Group
Glenfarne is a privately held energy and infrastructure investment, development, and management firm based in New York City and Houston, Texas with offices in Panama City, Panama; Santiago, Chile; Bogota, Colombia; and Dallas, Texas. Glenfarne’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy and infrastructure assets. For more information, please visit www.glenfarnegroup.com.
Powered by WPeMatico