LNG share price crashed due to unable to secure second binding tolling agreement as scheduled.
IDT seems to fit nicely not only a shareholder but also potentially a right hand to secure BTA.
As IDG’s president stated to assist LNGL in unlocking this market.
IDG Energy Investment’s President, Mr. Liu Zhihai, stated, “We are excited to announce our investment in and support for LNGL and its Magnolia LNG project, which we see as one of the best positioned U.S. liquefaction projects to deliver needed LNG exports to Asia. IDG Energy Investment is particularly bullish on the long-term outlook for U.S.-sourced LNG into China, and we will immediately begin working with LNGL to assist them in unlocking this market.”
IDG Energy Investment Group Ltd
IDG Energy Investment (HKG:0650) is mainly engaged in global energy assets investment and management. It is currently focusing on the substantial investment opportunities arising from China's increasing demand for imported natural gas and the emerging North American LNG exporting market due to abundant low-cost shale gas supply. By investing in China's first non-state-owned LNG receiving terminal and one of the largest Canadian LNG export terminals under development, it has been making strategic investments along the LNG business value chain.
LNG Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
