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LNG Ltd completes $174 million capital raising


Published May 20, 2015
LNG Energy-2

Liquefied Natural Gas Limited announces a placement of 40 million fully paid ordinary shares in the capital of LNGL, which has raised A$174 million before costs (Placement). Use of Proceeds The proceeds of the Placement will be used towards: • Commencement of an Early Works program at the proposed 8 mtpa Magnolia LNG (MLNG) project following receipt of the timeline established in the Federal Energy Regulatory Commission (FERC) Schedule of Environmental Review (SER) announced on 30 April 2015.

Expenditures on the full Early Works program will commence upon the execution of binding offtake agreements for at least two LNG trains with a current design capacity of 4 mtpa and the finalisation of pricing for the EPC Contract with the KBR/SKEC JV, with a view to ensuring first LNG is delivered to customers in late 2018; • Bear Head LNG’s (BHLNG) pipeline infrastructure development work and front‐end engineering design (FEED) for a full 8 mtpa export facility, targeting a 2016 final investment decision (FID); • Potentially, the acquisition and development of a third LNG project in North America; and • General corporate purposes

Tags: Liquefied Natural Gas Limited




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