2019 Annual Report
Perth, Sep 30, 2019 AEST (ABN Newswire) - Liquefied Natural Gas Ltd (
ASX:LNG) (LI5:FRA) (LNGLY:OTCMKTS) maintains its confidence in delivering an FID on Magnolia LNG, for the following reasons:
- Global appetite for significant new sources of LNG in the 2020s remains absolute;
- Feedback from buyers supports the competitiveness of Magnolia LNG's commercial offering;
- Magnolia LNG's smaller capacity size enables achievement of a critical mass in contracting firm offtake to drive FID as compared with larger projects;
- Market opportunities beyond China are robust and LNGL is very actively progressing negotiations with these parties;
- Our cost structure remains one of the most competitive in the entire industry; and
- We remain one of the most advanced liquefaction developments in the world providing buyers with confidence that we can achieve financial close, construction, and operation on agreed timelines.
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https://abnnewswire.net/lnk/Z38DH618
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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