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The FERC gives Glenfarne Group an additional 5 years to complete Magnolia LNG project

10/8/2020

The U.S. Federal Energy Regulatory Commission (FERC) recently announced another 5 years (through April 2026) to allow Glenfarne Group LLC to complete its Magnolia LNG export plant in Louisiana. The commission originally approved this production in April 2016 to complete in April 2021.

Glenfarne added that “unforeseeable developments in the global LNG market have affected Magnolia’s ability to enter into long-term LNG offtake contracts ... critical to securing project financing and achieving (FID)”. These developments include government lockdowns due to the spread of the coronavirus, and the results of the trade war between the United States and China.

The company hopes to decide in 2021 whether to construct this LNG project, and if so, a 2025 startup would be in line for the export facility. Magnolia LNG is designed to produce 8.8 million tons per year of LNG.