Port of Lake Charles to lease 90 acres to Magnolia LNG
Author: AJOT | Mar 07 2013 at 07:00 PM | Category: Ports & Terminals
Port of Lake Charles Commissioners has approved an option for a long-term lease agreement on 90 acres with Magnolia LNG, an Australian-based energy company that plans to build a $2.2 billion export facility that will produce 4 million metric tons of liquefied natural gas per year.
Magnolia LNG will be located adjacent to Calcasieu Point Landing on the Industrial Canal. Construction is expected to begin in 2015, pending construction and federal permits.
Maurice Brand, Magnolia LNG managing director and joint chief executive director, said the project will create 35 to 50 new permanent jobs and an estimated 600 construction jobs.
“The Port of Lake Charles has been able to provide a unique combination of location, infrastructure and transportation capabilities to help bring this project to the region,” Port Executive Director Bill Rase said in a news release. “Magnolia LNG will be a significant and welcome addition to Southwest Louisiana’s energy corridor. The port’s staff and board of commissioners look forward to doing business with the company.”