New owner of Magnolia LNG asks feds for 5-year extension

(Courtesy Magnolia LNG)

Units of Glenfarne Group LLC and Kinder Morgan Inc have asked federal regulators for five more years to complete the Magnolia LNG export plant and associated gas pipeline expansions, Reuters reports—citing filings made available on Monday.

The U.S. Federal Energy Regulatory Commission approved construction of Magnolia LNG and related pipeline expansions in April 2016.

That approval required the companies to complete the project within five years, by April 2021.

Glenfarne acquired the Magnolia project from LNG Ltd of Australia in May 2020, said “unforeseeable developments in the global LNG market have affected Magnolia LNG’s ability to enter into long-term LNG offtake contracts … critical to securing project financing and achieving (final investment decision),” referring to purchase agreements for gas.

Reuters has the full story.