1.Greg why dump one sales agreement (Meridian 2018) and then rave on about almost gaining a replacement for it ?.
2.Greg you said getting rid of Meridian allows you to free up desired capacity from Magnolia LNG for offtakers, Greg that was over a year ago when you made that brilliant ? decision, where are these offtakers ?
Liquefied Natural Gas Limited (ASX: LNG, OTC ADR: LNGLY) (LNGL or the Company) through its 100% owned project company, Magnolia LNG LLC (Magnolia), and Meridian LNG Holdings Corp (Meridian LNG) have mutually agreed not to extend the deadline for satisfaction of the conditions precedent to the Liquefaction Tolling Agreement beyond the current date of 31 December 2018.
Magnolia and Meridian LNG executed the agreement on 22 July 2015 and entered into six extensions since then.
“LNG Limited is appreciative of the relationship we have enjoyed with Meridian LNG. However, this decision allows us to free up desired capacity from Magnolia LNG for offtakers that are more closely aligned with Magnolia’s development needs,” said Greg Vesey, Managing Director and Chief Executive Officer, LNG Limited.
LNGL continues to vigorously market Magnolia globally as the Company moves toward a final investment decision.
For further information, contact: Mr. Micah Hirschfield Mr. Andrew Gould Sr. Manager, Communications and Investor Relations Joint Company Secretary Liquefied Natural Gas Limited Liquefied Natural Gas Limited +1 713 815 6920 +61 (0)8 9366 3700 [email protected][email protected]
LNG Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held