Liquid Lights, Lanterns and Safety Lights

[Granyte the Ogre]

So if I am clear on the rules so far and please correct me if I am wrong

1 Alchemical Light tag = Green Glow stick
3 Alchemical Light tags = Flashlight (pointed at the ground)
5 Alchemical Light tags = Non-Flame Lantern

If you have a Lantern Tag, you only need 1 Alchemical Light tag or still need 5? If 5, what is the point of having a Lantern tag?