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Liquefied Natural Gas Signs Dredging Servitude Agreement

01 Aug 2017  |  09:42:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Magnolia LNG Signs Dredging Servitude Agreement

Liquefied Natural Gas announced that its wholly owned subsidiary, Magnolia LNG LLC (Magnolia), has executed a Servitude Agreement with Turners Bay, LLC, a Louisiana liability company, for the right to deposit dredge spoils on certain tracts of land located in Calcasieu Parish, Louisiana (Servitude Property) as per the Project's Beneficial Use of Dredged Material (BUDM) Plan and the U.S. Army Corps of Engineers (USACE) Section 404/10 Permit. The Turners Bay Servitude Property was originally secured under an option agreement in 2015 under the premise that dredged material generated by the Magnolia Project would be used to safeguard the remaining marsh and semi-enclose, and therefore protect Turners Bay by restoring marsh and the estuarine habitat.

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