NEW YORK & HOUSTON--(BUSINESS WIRE)--Glenfarne Group, LLC (“Glenfarne”), owner of the FERC and DOE permitted Magnolia LNG (“Magnolia”) and Texas LNG export projects, today announced the United States Department of Energy (“DOE”) has increased Magnolia LNG’s authorization to export an additional 0.8 million tonnes per annum (“MTPA”) of U.S.-sourced liquefied natural gas (“LNG”) to any country with which the United States has not entered into a Free Trade Agreement and with which trade is not prohibited by United States law or policy (“non-FTA Countries”). This approval permits Magnolia to export its total volume of 8.8 MTPA of LNG to non-FTA Countries.
”Magnolia LNG is pleased by this decision, which will support our nation's efforts to contribute to global energy security and the energy transition at this critical time,” said Vlad Bluzer, Managing Director of Glenfarne Group, LLC and President of the company’s LNG business. “We thank the Department of Energy and all our industry, regulatory, and other supporters for their continued enthusiasm and efforts on our behalf.”
Final investment decisions (“FID”) on both Magnolia LNG and Texas LNG will accelerate the supply of additional LNG capacity to the global market at a time when significant volumes are needed due to geopolitical disruptions and the increasing demand for cleaner energy sources. Glenfarne remains committed to furthering the energy transition through investments in responsible energy infrastructure worldwide.
Glenfarne’s CEO and Founder, Brendan Duval, commented: “Magnolia LNG has a stated FID target of 2023 intended to meet Glenfarne’s internal LNG import terminal projects’ demand. However, based on Magnolia’s fully permitted position, engineering status, and current market dynamics, we have fielded inquiries to announce FID in 2022, which we are seriously considering.”
Texas LNG remains on track for an FID in 2022.
The DOE press release can be viewed here
About Glenfarne Group, LLC
Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Florianopolis, Brazil; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America and Asia. For more information, please visit www.GlenfarneGroup.com.
About Magnolia LNG
Magnolia LNG is an 8.8 mtpa modularized liquefaction and export facility that is located in the heart of Louisiana’s vast natural gas corridor on the Calcasieu Ship Channel near Lake Charles. It is adjacent to the existing Kinder Morgan Louisiana Pipeline, through which all of its feed gas will be transported. Magnolia LNG is fully permitted by FERC and has both FTA and non-FTA export authorizations from the DOE.
Magnolia LNG will utilize the patented OSMR® liquefaction technology, a low-cost, highly efficient process designed to generate 30 percent lower greenhouse gas (GHG) emissions than other conventional LNG processes.
About Texas LNG
Texas LNG is a four mtpa modularized liquefaction export facility that is located in South Texas on the Port of Brownsville’s deep water ship channel with pipeline access to the vast Permian and Eagle Ford gas basins. It is fully permitted by FERC and has both FTA and non-FTA export authorizations from the DOE. Texas LNG is powered by electric drives as opposed to gas consuming turbines, which allows it to procure power through renewable PPAs delivering some of the lowest carbon LNG available in the market.
Glenfarne is the majority owner of Texas LNG, and Samsung Engineering Co., Ltd. is an indirect minority equity owner and strategic partner to Texas LNG.
Additional information about Texas LNG may be found on its website at www.texaslng.com
