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Lease Option Agreement in place with the
Lake Charles Harbor and Terminal District.
Magnolia LNG is permitted to receive natural
gas through the existing Kinder Morgan
Louisiana Pipeline and will pretreat, liquefy
and store the LNG onsite for domestic use
and export. Magnolia LNG will utilize the
patented OSMR® liquefaction technology, a
low-cost, highly efficient process configured
to generate lower greenhouse gas (GHG)
emissions than other conventional LNG
processes.
These agreements provide increased financial In parallel to the FEED the parties Glenfarne has two operating subsidiaries:
flexibility with a limited financial obligation of have developed a term sheet for a lump- Alder Midstream, which focuses on building,
a revenue guarantee on a fraction of its initial sum, turnkey engineering, procurement, owning, and operating midstream and LNG
capacity rights. construction, integration and commissioning assets, and EnfraGen, a developer, owner,
OVINTIV, October 13, 2020 contract (LSTK EPCIC) as basis for the and operator of specialised power generation
development of a fully termed agreement. assets. Glenfarne’s total LNG export capacity
DELFIN MIDSTREAM, October 11, 2020 is approximately 12.8 mtpa: 8.8 mtpa from
DOWNSTREAM Magnolia LNG and 4.0 mtpa from Texas LNG
Brownsville, a FERC-permitted LNG export
Delfin announces Glenfarne’s Magnolia development project in Brownsville, Texas,
LNG receives FERC permit
majority-owned by Alder Midstream.
completion of FEED for the extension GLENFARNE GROUP, October 08, 2020
Delfin newbuild FLNG vessel Glenfarne Group, an investor, developer, MOVES

Today Delfin Midstream is pleased to owner, and operator of energy and
announce the completion of FEED for the infrastructure assets, announced today that Annapolis Capital
newbuild FLNG Vessel of 3.5 mtpa nameplate its recently acquired Magnolia LNG export
capacity for the Delfin LNG project in co- terminal development project located in Lake announces the combination
operation with Samsung Heavy Industries and Charles, LA has received a five-year permit
Black & Veatch. extension from the Federal Energy Regulatory of Tyrannex Energy and
The tripartite co-operation has been Commission (FERC). Per the extension,
successful in developing a robust, low cost Magnolia LNG will begin operations of the Tempus Energy to create
and efficient FLNG vessel design for the terminal by April 15, 2026. At the same time,
project. The FEED results together with the FERC also extended the permit for the Kinder well-capitalised Alberta
overall project development activities enable Morgan pipeline that will supply feed gas to
the company to execute the project for a total Magnolia LNG. light oil producer Amicus
capital cost of around $550/tpa. “At 8.8mn tonnes per annum from a four
Each FLNG vessel can be developed train mid-scale design, we believe Magnolia Petroleum
independently, with its own commercial and LNG has the right size and scope to best
financial structure, which allows Delfin to compete in the current and future LNG Annapolis Capital is pleased to announce
be at the lower end of the global LNG cost market and is well-positioned to meet global the merger of two of its portfolio companies,
curve combined with the absolute lowest FID demand starting in the middle of this decade,” Tyrannex Energy and Tempus Energy, to
threshold of 2.0-2.5 mtpa firm offtake. said Brendan Duval, Founder and Managing form Amicus Petroleum. The merger creates
The Delfin newbuild FLNG vessel design Partner of Glenfarne. “Our LNG customers an Alberta-focused, high netback, light oil
uses the latest gas turbine technology, will transact with Magnolia LNG knowing producer with current production capability
optimisations of the Black & Veatch’s patented they will receive LNG from one of the of approximately 1,350 boepd (75% oil and
PRICO® liquefaction technology, direct air lowest-cost, most reliable, and most efficient NGLs) and a pristine balance sheet. The
cooling and waste-heat recovery to achieve terminals on the US Gulf Coast.” Company’s blend of longer life, low decline
maximum fuel efficiency and minimal (GHG) “Coming only a few months after our assets and high impact, quick payout drilling
emissions. acquisition of Magnolia LNG, this extension opportunities position it well to both weather
Each vessel will be equipped with two approval is an important early milestone in the current low oil pricing environment and
offloading facilities to service both large, our development plan, and it underscores return to growth when oil prices strengthen.
ocean-going carriers as well as the regional our focused commitment and belief in the In addition, with cash on hand (no debt) and
demand for LNG bunkering and small-scale project,” said Vlad Bluzer, Managing Director a call on additional capital from Annapolis,
carriers. With ultimately four FLNG vessels of Glenfarne and President of Magnolia LNG Amicus is uniquely positioned to pursue
in operation, the project will have 4 berths Holdings. further consolidation activity in the current
for 13 mtpa, which provides an unmatched Magnolia LNG sits on a 115-acre project distressed market environment.
operational flexibility to service the bunkering site on the Industrial Canal near Lake Charles ANNAPOLIS CAPITAL, October 14, 2020
and small-scale market. in Southwest Louisiana and has a long-term

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