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 2018 >>
MTWTFSS
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

33rd International Scientific & Expert Meeting of Gas Professionals

It is our pleasure to invite you to register your participation on the largest international symposium…

read more >

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC China LNG and Gas Summit & Exhibition 2018

The Only International Event to Meet the New Chinese LNG Buyers

read more >

9th SCADA World Summit 2018

The 4-day conference event’s key highlights will include case studies from leading energy & utilities companies, interactive discussions…

read more >