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Liquefied Natural Gas Announces Magnolia Secures $1.5bn Commitment from Stonepeak

05 Jul 2017  |  08:53:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Magnolia LNG Secures $1.5 Billion Commitment from Stonepeak

Liquefied Natural Gas announced that certain of its wholly owned subsidiaries have entered into an amended and restated Magnolia LNG (Magnolia) equity commitment agreement (ECA) with Stonepeak Partners and have updated the associated Magnolia LLC Agreement (LLC Agreement). The amended ECA and LLC Agreements replace the existing Stonepeak agreements signed in October 2013 in their entirety. The ECA governs the relationship, cooperation, rights, and obligations between Stonepeak and LNGL through Financial Close of Magnolia. The LLC Agreement sets out the respective rights and obligations of Stonepeak and LNGL relating to Magnolia from Financial Close, including the governance, construction, operation, allocation of profits.

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