Stonepeak To inject US$660m or more

The original binding agreement to inject US$660m cash as equity from Stonepeak for 4mtpa.

The 2015 annual report highlights the company and Stonepeak are undertaking discussions to increase equity injection.

I read one analyst report which mentioned Stonepeak could contribute US$800m.

LNGL valuation is less than 2/3 Stonepeak's cash injection.

1. Equity Commitment
   
   In 2014 the Company executed an Equity Commitment Agreement (ECA) with New York headquartered Stonepeak Partners LP (Stonepeak). The ECA governs the relationship, cooperation, rights and obligations between Stonepeak and the Company through to Financial Close. The ECA also incorporates the Magnolia LLC Agreement, which sets out the respective rights and obligations of Stonepeak and the Company from Financial Close, including the construction and funding of the Magnolia LNG project, the management and governance of the project, the allocation and distribution of future profits, and other related matters.
   
   The Stonepeak commitment remains in place. In light of market interest in the Magnolia LNG project, LNGL and Stonepeak are undertaking discussions to adjust the original ECA to encompass the full 8 mtpa project in a single phase financing.