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>

<< Aug 2019 >>
MTWTFSS
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 31 1

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

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

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >