Liquified Natural Gas (ASX: LNG) Edging up on Extension of Offtake Agreement

LNGL, Liquified Natural Gas Limited (ASX: LNG) via its fully owned project company, has agreed to extend the Meridian LNG offtake agreement through extension of the financial close date to 30 September 2018 of their legally binding agreement. This extension of three months will allow both parties to maintain commercial flexibility. All the other provisions of the governing agreements not amended by this particular extension remain in force and effect. Supporting infrastructure, truck load facilities, ship, barge and two 160,000 full containment storage are included in the construction and operation is included in Magnolia’s LNG project.

Other than Magnolia, LNGL’s portfolio consists of a Canadian based subsidiary, Bear Head LNG Corporation Inc., which is under development of an 8 – 12 mtpa or greater LNG export in Richmond country, Nova Scotia, Canada with further expansion potential. Bear Paw Pipeline Corporation Inc. is proposing to operate and construct a 62.5 km gas pipeline lateral to connect gas supply to bear head LNG. LNG Technology Pty. Ltd. which develops the Company’s OSMR LNG Liquefaction process, also owns it. Thus LNG provides a midsize business model that plans to deliver improved efficiency, faster construction, lower operating costs and lower capital relative to larger traditional LNG projects.

Liquified Natural Gas Limited is trading at a current market price of $0.562 as at 25 Jun 2018, up over 2%.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s