Magnolia LNG ‘s Supplemental Environmental Impact Statement

Magnolia LNG ‘s Supplemental Environmental Impact Statement

Liquefied Natural Gas Limited (ASX:LNG) advised that the United States Federal Energy Regulatory Commission (FERC) issued the Draft Supplemental Environmental Impact Statement (DEIS) for the production capacity amendment to the Company’s Magnolia LNG LLC (Magnolia LNG) project on 27 September 2019. Magnolia LNG’s production capacity amendment, filed with FERC on 19 November 2018, would increase the total authorized production capacity of Magnolia from the currently authorized 8 million tonnes per annum (mtpa) to 8.8 mtpa.

In the Supplemental DEIS, FERC concluded: “The modifications associated with the Production Capacity Amendment, with the additional mitigation measures recommended in the supplemental EIS, would continue to avoid or reduce impacts to less than significant levels.

FERC also concluded: “There would be no substantive change in construction noise or air emissions from that previously analyzed in the Commission’s EIS for the Magnolia LNG Project and modeling demonstrates there would be no exceedances of the National Ambient Air Quality Standards.”

The Supplemental DEIS is a critical milestone for the proposed Magnolia LNG project capacity upgrade, incorporating comments from FERC and other cooperating federal agencies. In completing the work necessary to issue the Supplemental DEIS, FERC analyzed publicly available data and data provided by Magnolia LNG associated with the construction and operation of the Magnolia LNG project.

FERC set 18 November 2019 as the deadline for receipt of public comments on the Supplemental DEIS. Based on the Notice of Schedule for Environmental Review, previously issued by FERC on 26 June 2019, the Supplemental Final Environmental Impact Statement (FEIS) is expected to be issued by FERC on or before 24 January 2020.

The Company’s Managing Director and CEO, Greg Vesey, said, “We thank FERC for their expeditious diligence and review of Magnolia LNG’s Production Capacity Amendment, and we are pleased with the findings in the Draft Supplemental Environmental Impact Statement. The LNG Limited team looks forward to our continued work with FERC to enable us to receive the FEIS on schedule in January 2020.”

Source / More : Liquefied Natural Gas Ltd

Liquefied Natural Gas Ltd maintains its confidence in delivering an FID on Magnolia LNG, for the following reasons:

– Global appetite for significant new sources of LNG in the 2020s remains absolute;

– Feedback from buyers supports the competitiveness of Magnolia LNG’s commercial offering;

– Magnolia LNG’s smaller capacity size enables achievement of a critical mass in contracting firm offtake to drive FID as compared with larger projects;

– Market opportunities beyond China are robust and LNGL is very actively progressing negotiations with these parties;

– Our cost structure remains one of the most competitive in the entire industry; and

– We remain one of the most advanced liquefaction developments in the world providing buyers with confidence that we can achieve financial close, construction, and operation on agreed timelines.

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