Home > Liquified Natural Gas Limited cashing in on prospect of success in US

Liquified Natural Gas Limited cashing in on prospect of success in US

Editorial
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Shares in Liquefied Natural Gas Limited (ASX:LNG) have undergone a steady climb over the past three months, spiking sharply to a peak of $1.36 on Friday.

The as-yet unproductive gas company was trading between 16c and 30c in January.

The Perth company announced to the ASX on Friday a placements of 58,792,746 fully paid ordinary shares to investors in Australia and overseas.

LNGL has an interest in the United States, with plans to build a gas liquification plant in Louisiana, in the port of Lake Charles.

The company intends to build the Magnolia plant with four trains, each capable of producing 2 mtpa of LNG.

So far, plans for a two-train plant are slated to cost $US2.2billion, with first gas in mid-2018.

Construction of the plant with go to South Korean SK Engineering and Construction.

LNGL shares prices are currently down to $1.25.

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