LNG Limited completes Fisherman’s Landing project exit

LNG Limited completes Fisherman's Landing project exit
Image courtesy of LNG Limited

Perth-based LNG Limited completed the sale of all the shares in Gladstone LNG, completing the exit from the Fisherman’s Landing liquefied natural gas export project in Gladstone. 

Under the executed share sale agreement with an unnamed third-party, LNG received $800,000, previously held in a trust account under a previously disclosed license transfer deal, as well as a reimbursement for security deposits posted by Gladstone LNG related to the Fisherman’s Landing project licenses.

With the execution of the agreement, the buyer secured ownership of the proposed Fisherman’s Landing LNG project, including the licenses and the opportunity to utilize LNGL’s OSMR technology on a future LNG project at the Fisherman’s Landing Gladstone site.

The buyer shall pay LNGL an additional $4 million if financial close is achieved for an LNG project at the site.

“This agreement completes LNG Limited’s exit from the Fisherman’s Landing project,” said Greg Vesey, Managing Director and CEO of LNGL.

He noted the company is focused on its activities for both the Magnolia LNG project in Louisiana, United States, and the Bear Head LNG project in Nova Scotia, Canada.

Share this article

Follow LNG World News

Events>

<< Apr 2020 >>
MTWTFSS
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

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >