Perth, Australia, Oct 11, 2019 - (ABN Newswire) - Liquefied Natural Gas Ltd (ASX:LNG.AX - News) (HAM:LI5.HM - News) (OTCMKTS:LNGLY - News) maintains its confidence in delivering an FID on Magnolia LNG, for the following reasons:
- Global appetite for significant new sources of LNG in the 2020s remains absolute;
- Feedback from buyers supports the competitiveness of Magnolia LNG's commercial offering;
- Magnolia LNG's smaller capacity size enables achievement of a critical mass in contracting firm offtake to drive FID as compared with larger projects;
- Market opportunities beyond China are robust and LNGL is very actively progressing negotiations with these parties;
- Our cost structure remains one of the most competitive in the entire industry; and
- We remain one of the most advanced liquefaction developments in the world providing buyers with confidence that we can achieve financial close, construction, and operation on agreed timelines.
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About Liquefied Natural Gas Ltd:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 - 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
Mr. Micah Hirschfield Sr. Manager, Communications and Investor Relations Liquefied Natural Gas Limited T: +1-713-815-6920 E: email@example.com Mr. Andrew Gould Joint Company Secretary Liquefied Natural Gas Limited T: +61-8-9366-3700 E: AGould@lnglimited.com.au
Liquefied Natural Gas Ltd
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