Investor boosts Louisiana LNG export project

Magnolia LNG, an 8-million tonne/year export project planned for Lake Charles, La., has received a boost from an investment agreement with Stonepeak Partners LP, New York. The project has been advanced by Australia-based Liquefied Natural Gas Ltd.

In return for providing the entire project equity requirement of $660 million and based on the initial development plan of two LNG trains with total capacity of 4 million tpy of LNG, Stonepeak would hold about 50% of the MLNG project and LNGL will hold the remaining.

Estimated capital cost for the full development, said LNGL, remains at $2.2 billion. LNGL plans to finance the project based on 70% project debt financing and 30% project equity financing provided by Stonepeak. Exact ownership split between Stonepeak and LNGL will be determined at financial close, said the announcement earlier this month.

LNGL and Stonepeak now proceed to reaching definitive agreements within an agreed-on 60 days. As part of the agreement, Stonepeak will assist LNGL in securing long-term project debt financing of an estimated $1.54 billion.

Related Articles

ETP unit gets FERC approval for gas exports to Mexico

03/21/2014 Energy Transfer Partners LP unit Houston Pipe Line Co. LP (HLPC) has received approval from the US Federal Energy Regulatory Commission to build a ...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

Shah Deniz II, South Caucasus Pipeline contracts awarded

03/20/2014 The Shah Deniz and South Caucasus Pipeline consortia awarded project management and construction contracts for the development of Shah Deniz Stage ...

MARKET WATCH: NYMEX crude prices rise on Seaway pipeline expansion news

03/19/2014 Crude oil futures prices rose on the New York market Mar. 18 after Enterprise Products Partners LP told analysts and investors that an expanded Sea...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected