LNG outlook news, page-106

See extract from the Upstream article and note items in BOLD

Executives with the Magnolia project, a proposed $4.3 billion four-train liquefaction facility in the US state of Louisiana, say their project is "shovel-ready" but are looking to fill out the remaining commitments needed to move forward with construction.
Greg Vesey, chief executive for Australian LNG Limited who owns Magnolia, said the mid-scale LNG project has signed up offtakers for about 2 million of the 8 million tonnes per annum of capacity being offered.
"2018 is about getting customers signed up," he said to an audience at the third annual Transatlantic Energy Forum at the Petroleum Club in Houston hosted by LNG Allies.
There’s “real potential” to get an final investment decision by the end of the year, he said. Vesey has been attempting to lure investors for several years now.
“If we get to six (million) and we think it’s dried up, we can do it at six,” he said. But he believes “once we get that wave started we’ll get the full eight."
Vesey said construction at the export project in Lake Charles is expected to take four years to complete after an FID.
The 115-acre facility, sitting along the Calcasieu Ship Channel, would have an initial capacity to produce 4 million tonnes per annum from two trains with room for expansion.
If an FID is reached by the end of 2018, it could see its first LNG export by the second half of 2022, a time when chief executives and analysts alike are predicting demand for LNG and prices are supposed to rise.
LNG Limited has faced a tougher path on other projects. Last May, the company pulled the plug on a proposed two-train facility called Fisherman’s Landing LNG in Queensland, Australia after failing to secure adequate supply. Each train would have had the capacity for 1.5 million tpa.
The company now has all of its assets in North America and had planned to relocate to Houston and list its stock on the New York Stock Exchange or Nasdaq. Both moves are on hold as the company focuses on Magnolia.

Honk Honk