Magnolia LNG agrees to provide LNG to Vietnam
CAMERON PARISH, La. (KPLC) – Magnolia LNG has agreed to a deal to supply liquefied natural gas to Vietnam, company officials say.
Magnolia LNG is a planned LNG export terminal on the Industrial Canal off the Calcasieu Shipping Channel in Cameron Parish. The property is owned by the Port of Lake Charles. Parent company Liquefied Natural Gas Limited has had FERC approval to proceed with Magnolia since May 2017, but has yet to make a final investment decision.
The 20-year agreement with Delta Offshore Energy is to deliver an LNG-to-power project for the Bac Lieu province of Vietnam, where an LNG import terminal and power plant is planned to be built, beginning in 2023. Magnolia will deliver 2 million tonnes per annum (2 mtpa) of LNG. Delta OE will move the gas, then sell the generated electricity to the province.
“This agreement is a major achievement for the Magnolia LNG project as we progress our global commercial and marketing push toward a final investment decision,” Greg Vesey, LNG Limited’s managing director and CEO, said in a statement.