LNG Limited completes $21.4 mln share placement

LNG Limited completes $21.4 mln share placement
Image courtesy of LNG Limited

LNG Limited, the Australian company developing two LNG export projects in North America, closed the share placement to IDG Energy Investment Group, raising A$28.2 million ($21.4 million) in the process. 

The shares placement was initiated at the start of the month when LNG Limited said it will place 56,444,500 shares to an IDG Energy Investment Group’s unit.

According to the company’s statement on Wednesday, net proceeds from the share placement will be used to support the ongoing liquefied natural gas (LNG) offtake marketing efforts focused on Magnolia LNG as well as for general corporate purposes.

LNG Limited said at the beginning of the month that IDG Energy Investment, which is an affiliate of  IDG Capital, will hold a 9.9 percent interest in LNG Limited.

LNG Limited’s Magnolia liquefied natural gas project in the port of Lake Charles, Louisiana, in the United States will have an 8 mtpa production capacity.

The company is also developing the Bear Head LNG project in Canada’s Nova Scotia with an 8-12 mtpa production capacity with potential for further expansion. Natural gas supplies to the project would be delivered via the Bear Paw pipeline, proposed for construction by LNG Limited.

Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >