Quarterly Reports September 2014
Perth, Nov 3, 2014 AEST (ABN Newswire) - Liquefied Natural Gas Limited (
ASX:LNG) provide the Quarterly Report for the period ending September 2014.
Corporate
- A placement of 14.8 million new shares in the Company at $2.60/share was completed on 6 August 2014 and raised $38.6 million.
- OSMR® Process patent was granted in Canada.
- The Company entered the ASX S&P 200 Index.
- Mr Michael Mott was appointed as the Company's Houston based Chief Financial Officer.
- Mr Paul Cavicchi was appointed as the Company's first US based Non-Executive Director.
- Cash balance of $63.9 million as at 30 September 2014.
Magnolia LNG Project, Lake Charles, Louisiana, United States
- US DOE announced proposed changes to its procedures for processing applications to export LNG to non-FTA countries.
- Continued with the completion of FEED and negotiations with SKEC for a binding EPC contract.
- Continued negotiations will all four proposed Tollers parties.
- Continued to progress with the US Federal Energy Regulatory Commission (FERC) for all necessary permits and approvals for the development of the project.
Bear Head LNG Project, Nova Scotia, Canada
- The Company expanded its presence in the North American LNG sector by purchasing Bear Head LNG Project for US$11 million from a subsidiary of Anadarko Petroleum Corporation.
- The Company plans to turn Bear Head into an 8 mtpa LNG export facility with potential for future expansion.
Fisherman's Landing LNG Project, Gladstone, Queensland (FLLNG)
- Gladstone Ports Corporation Limited has extended the Option to Lease until 31 March 2015, with option to extend to 31 March 2016.
- The Company has signed a non-binding memorandum of intent (MOI) for gas supply with Tri-Star Petroleum Company (Tri-Star). Tri-Star has certain gas tenures in Queensland which could supply gas to FLLNG.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-LNG-698383.pdf
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.
| ||
|
