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KLG LNG's offtake deal in the US: A lot depends on converting it into a binding agreement
Feb 03: There is now speculation in the market over whether KLG LNG will now convert the non-binding LNG offtake deal with Magnolia LNG project in the US.
8KLNG LNG is an Indian LNG project and it is a joint venture between VGS Group, Cavallo Energy and Exmar. Cavallo Energy is backed by Calpine, the largest generator of electricity from natural gas and geothermal sources in the US.
8Calpine has a $4bn market cap and is listed on the NYSE. Exmar is a Euro 440m market cap, Belgium-based shipping group.
8Critically, the future of the Magnolia LNG project seems to depends on this deal
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