LNGL Participating in U.S. Trade Mission to Southeast Asia
Perth, Nov 4, 2019 AEST (ABN Newswire) - Liquefied Natural Gas Limited (
ASX:LNG) (LI5:FRA) (LNGLY:OTCMKTS) is pleased to advise that the Company has been chosen to participate in a United States Business Development Trade Mission to Thailand, Indonesia, and Vietnam led by U.S. Secretary of Commerce Wilbur Ross from November 3 - 8, 2019 including attendance at the Indo-Pacific Business Forum in Bangkok. The mission intends to accelerate U.S. commercial activity in Southeast Asia in liquefied natural gas (LNG) and other industries, supporting job creation and export opportunities for U.S. based companies and projects, to meet the region's needs for economic growth and development.
LNGL Managing Director and Chief Executive Officer, Greg Vesey, and Chief Development Officer, Joe B'Oris, will be part of Secretary Ross' delegation participating in a wide range of government and business-to-business meetings and discussions. As part of the mission, LNGL will:
- Promote Magnolia LNG's (Magnolia) advantages to potential Southeast Asian customers thereby advancing commercial discussions;
- Encourage continued movement of U.S. LNG into Southeast Asia beyond the existing memorandum of understanding (MOU) between LNGL and Delta Offshore Energy (DeltaOE) pursuant to which the parties agreed to negotiate and agree a binding sale and purchase agreement to sell 2 mtpa of U.S. LNG from Magnolia into the Bac Lieu Province in Vietnam; and
- Bring visibility to the DeltaOE project and the project's U.S partners (including LNGL).
"It is an honor to be chosen to accompany Secretary Ross and other business leaders in seeking to increase U.S. LNG exports into Southeast Asia," said Greg Vesey, Managing Director and CEO, LNG. "Thailand and Vietnam, in particular, have significant growth potential in LNG and this trade mission gives us the opportunity to continue our discussions with key decision-makers across the gas value chain as we seek to sell the remainder of Magnolia's capacity."
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- 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.
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