Australian Court Approves LNGL Recapitalization, Asset Sale Options (Kallanish) July 10: Parties interested in recapitalizing or acquiring assets from Australia’s Liquefied Natural Gas Limited must do so by July 24. The company’s administrators got approval from the Supreme Court of Victoria to proceed with the Stage 2 Process to either recapitalize the company or sell […]
Company Sold to Global Energy Megatrend (Acadiana Advocate) Kristen Mosbrucker (May 12): The Magnolia LNG project near Lake Charles has been sold the operation to a British business with an office in Lafayette, Louisiana. Global Energy Megatrend Ltd. is expected to pay $2.25 million to LNG Ltd. in a deal slated to close on May […]
Administrators Appointed, Directors Resign (News Release) Three individuals from PricewaterhouseCoopers Australia were appointed joint and several voluntary administrators of LNG Ltd. on April 30, are reviewing the Company’s business and assets, and will be in contact with creditors shortly. Michael McAnearney, Richard Beresford, Gregory Vesey, and Michael Steuert resigned as directors. [Status of Magnolia LNG […]
Singapore Company’s Bid for LNG Limited Fails to Get Financing (Chron) Sergio Chapa (April 14): A $75 million bid to buy LNG Ltd. has been put on hold because… First Wall Street Capital Corp. wouldn’t provide funding to LNG9 for the deal. LNG Ltd. said late Mon. (April 13) that LNG9 will continue to seek […]
FERC Issues Supplemental FEIS (NatGas Intel, Subscription) Magnolia LNG received its Supplemental Final EIS from FERC (Jan. 27) to increase Magnolia LNG’s capacity to 8.8 mtpa. The increased production capacity would be achieved through the optimization of the final design, including additional and modified process equipment, according to FERC. All new or reconfigured facilities would […]
Vesey Says Natural Gas Will Be a Big Player for the Foreseeable Future (CNBC Video) Greg Vesey of LNG Limited (developer of the Magnolia LNG project in Louisiana) says, if natural gas is a bridge fuel, it’s going to be a “really long bridge.” Link to Content
FERC Issues Supplemental EIS for Incremental Capacity The staff of the Federal Energy Regulatory Commission (FERC) has prepared a draft supplemental environmental impact statement (EIS) for the Magnolia LNG Production Capacity Amendment (from 8.0 mtpa to 8.8 mtpa) proposed by Magnolia LNG. Comments are due by Nov. 18.