Glenfarne Asks FERC for Extra 5 Years to Build Magnolia LNG

In May, Australian company LNG Limited (LNGL) found a buyer for its Magnolia LNG export project, located in Louisiana, for $2 million (see PWC Sells U.S. Magnolia LNG to Different Company for $2M). The buyer turned out to be investment firm Glenfarne Group (see Mystery Solved of Who Bought Magnolia LNG Export Project). Glenfarne, along with Kinder Morgan (which plans to build a pipeline to the Magnolia facility), has asked the Federal Energy Regulatory Commission (FERC) to extend the time to build the project.

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