magnolia

Magnolia Reaping ‘Early Stages’ of Growth from Austin Chalk Development

Magnolia Reaping ‘Early Stages’ of Growth from Austin Chalk Development

Magnolia Oil and Gas Corp. may be at the beginning of a year-long surge in production growth after a strong showing in the first three months of the year in the Eagle Ford Shale and Austin Chalk formation. The Houston-based independent previously launched development programs for parts of its South Texas assets, including the Giddings…

May 17, 2022
U.S. LNG Projects Said to Face Significant Hurdles to Sell Supply

U.S. LNG Projects Said to Face Significant Hurdles to Sell Supply

The global liquefied natural gas (LNG) supply glut, exposure to European pipeline gas price risk and Asian gas price controls make it difficult for U.S. export project developers to sign long-term deals indexed to Henry Hub prices, according to an industry executive. Potential customers are “looking at a current price scenario of $4.00-5.00/MMBtu and we’re…

November 12, 2020
Magnolia LNG Secures Five-Year Extension to Begin Service Amid Weak Market

Magnolia LNG Secures Five-Year Extension to Begin Service Amid Weak Market

FERC has given the proposed Magnolia liquefied natural gas (LNG) export project near Lake Charles, LA, and an associated Kinder Morgan Inc. pipeline expansion five additional years to be placed in service because of the difficulty in securing long-term customers to finance the project. The 8.8 million metric ton/year (mmty) project and the so-called Lake…

October 8, 2020
Magnolia LNG, Pipeline Developer Seek Five-Year Extension to Build Facilities

Magnolia LNG, Pipeline Developer Seek Five-Year Extension to Build Facilities

The developer of a Gulf Coast liquefied natural gas (LNG) project that would be part of the so-called second wave buildout is seeking more time from FERC to build the export facility, citing difficulty in securing long-term offtake agreements with international customers. New York City-based Glenfarne Group LLC told the Federal Energy Regulatory Commission on…

September 14, 2020
Glenfarne eyeing Gulf Coast LNG FIDs in 2021, Sees ‘Substantial Opportunity’ in Korean Market

Glenfarne eyeing Gulf Coast LNG FIDs in 2021, Sees ‘Substantial Opportunity’ in Korean Market

New York City-based Glenfarne Group LLC hopes to fund both of its U.S. Gulf Coast LNG export projects by the end of 2021, founder Brendan Duval told NGI. Glenfarne earlier this month closed on the acquisition of the 8.8 million metric tons/year (mmty) Magnolia LNG export project near Lake Charles, LA, from Australia’s Liquefied Natural…

June 29, 2020
Glenfarne Group Takes Over Proposed Magnolia LNG Project in Louisiana

Glenfarne Group Takes Over Proposed Magnolia LNG Project in Louisiana

Liquefied Natural Gas Ltd. (LNGL) has finally closed on the sale of its proposed 8 million metric tons/year (mmty) export project in Lake Charles, LA, after two previous deals fell through.

June 9, 2020
Louisiana LNG Project Lands New Buyer After Second Deal Falls Through

Louisiana LNG Project Lands New Buyer After Second Deal Falls Through

Liquefied Natural Gas Ltd. (LNGL) has lined up yet another deal to sell some assets after a transaction with Global Energy Megatrend Ltd. fell through this week.

May 28, 2020
Facing Cash Crunch, LNG Developer Sells Interest in Magnolia Export Project

Facing Cash Crunch, LNG Developer Sells Interest in Magnolia Export Project

LNG Ltd. (LNGL) said Tuesday it plans to sell its interest in a proposed liquefied natural gas (LNG) export project in Lake Charles, LA, to Global Energy Megatrend Ltd. for $2.25 million.

May 12, 2020

The Offtake: LNG in Brief

A roundup of news and commentary from NGI’s LNG Insight

May 1, 2020
Magnolia LNG Developer Mulling Buyout by Singapore Firm

Magnolia LNG Developer Mulling Buyout by Singapore Firm

Citing “intense” competition in the race to export liquefied natural gas (LNG) and an urgent need to secure liquidity, Australia-based LNG Ltd. (LNGL) is considering a takeover offer from a private Singapore-based firm that would include two proposed projects for the Gulf Coast and Canada.

March 4, 2020
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