Magnolia LNG Project Purchased by Glenfarne, an Industrial Info Market Brief

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After Global Energy Megatrend failed to close the purchase of the Magnolia liquefied natural gas (LNG) project from LNG Limited, a new buyer emerged in a matter of days. Glenfarne, based in New York, purchased the project for $2 million. Glenfarne said in a press release it intends to follow through with the project. Glenfarne said it is a privately-held energy and infrastructure development and management firm that has two operating subsidiaries that respectively focus on building, owning and operating midstream assets in the investment-grade Americas; and develop, own and operate specialized power generation assets.

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