LNG Limited Raises A$28.2 Million For Magnolia LNG Offtake Marketing Efforts
Posted on Jun 5, 2018 in Financing, Liquefaction, LNG Exports | Comments Off on LNG Limited Raises A$28.2 Million For Magnolia LNG Offtake Marketing Efforts
Australian company Liquefied Natural Gas Limited (LNGL) has announced that it has entered into a binding subscription agreement with IDG Energy Investment Group Limited for a Share Placement which will raise gross proceeds of A$28.2 million. According to the press release, following the close of the Share Placement, IDG Energy Investment will hold a 9.9% interest in LNGL. Net proceeds from the Share Placement will be used in support of ongoing LNG offtake marketing efforts, focused on the proposed Magnolia LNG project in Lake Charles, La., and for general corporate purposes.