Australia markets open in 4 hours 25 minutes
  • ALL ORDS

    7,288.80
    -36.60 (-0.50%)
     
  • AUD/USD

    0.7123
    +0.0015 (+0.22%)
     
  • ASX 200

    7,032.50
    -38.50 (-0.54%)
     
  • OIL

    91.88
    -2.46 (-2.61%)
     
  • GOLD

    1,818.90
    +11.70 (+0.65%)
     
  • BTC-AUD

    34,113.96
    -364.06 (-1.06%)
     
  • CMC Crypto 200

    574.64
    +3.36 (+0.59%)
     

Liquefied Natural Gas Limited (ASX:LNG) Canadian Patent Granted for OSMR Technology

Brisbane, Australia, Aug 13, 2014 - (ABN Newswire) - The Directors of Liquefied Natural Gas Limited ("Company") (ASX:LNG.AX - News) (OTCMKTS:LNGLY - News) are pleased to announce that the Company has been issued its second and final Canadian Patent from the Canadian Intellectual Property Office in Canada.

The Company now has Patents in Canada to protect its two primary inventions being:

- A Method and System for Production of Liquid Natural Gas ("OSMR(R) process"); and

- Boil-off Gas Treatment Process and System ("BOG treatment process").

The Company's Managing Director and CEO, Mr Maurice Brand, said "We are very pleased that the Company's primary inventions are protected in Canada to support the Company's expansion into the Bear Head LNG Project in Richmond County, Nova Scotia, Canada." Patent protection in Canada, and in other important jurisdictions, allows the Company to move forward with other international opportunities as well as progressing the following three projects:

- Magnolia LNG Project in Lake Charles, Louisiana, USA (export of 8 mtpa);

- Bear Head LNG Project in Richmond County, Nova Scotia, Canada (export of 4 mtpa with potential for future expansion), and

- Gladstone Fisherman's Landing LNG Project in Queensland, Australia (export of 3 mtpa).

The OSMR(R) process is based on a proven simple single mixed refrigerant system with the addition of conventional combined heat and power and ammonia refrigeration technology to significantly enhance the plant performance (LNG output and overall process efficiency).

This results in a plant cost of around half that of competing technologies (based on $/tpa) and an overall plant efficiency which is around 30% better than others (i.e. 30% less carbon emissions). This, together with the Company's plant modularisation and construction strategy, substantially improves project economics.

About Liquefied Natural Gas Limited:

Liquefied Natural Gas Limited (ASX:LNG.AX - News) (OTCMKTS:LNGLY - News) is an ASX listed company (ASX:LNG.AX - News) (US:LNGLY - News) whose portfolio consists of 100% ownership of the following assets:

- Magnolia LNG, LLC, a US-based wholly owned subsidiary, which is developing the Magnolia LNG Project an 8 mtpa LNG export terminal, in Lake Charles, Louisiana, USA;

- Gladstone LNG Pty Ltd, a wholly owned subsidiary, which is developing the Fisherman's Landing LNG (FLLNG) Project at the Port of Gladstone in Queensland, Australia; and

- LNG Technology Pty Ltd, a wholly owned subsidiary, which developed and owns the Company's OSMR(R) LNG liquefaction process, a mid-scale LNG business model that plans to deliver: lower capital operating costs; faster construction; and improved efficiency, relative to larger traditional LNG projects.

Contact:

Liquefied Natural Gas Limited T: +618-9366-3700 F: +618-9366-3799 WWW: www.lnglimited.com.au

Source:

Liquefied Natural Gas Limited

Copyright (C) 2014 ABN Newswire. All rights reserved.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting