LNG Limited dismisses takeover rumours

An artist's impression of the Fisherman's Landing LNG Project.

An artist's impression of the Fisherman's Landing LNG Project.

Liquefied Natural Gas (LNG) Limited has played down speculation that it will be the subject of an imminent takeover bid.

The United States based company – which owns and operates the Gladstone ‘Fisherman’s Landing’ LNG Project in Queensland – saw its share price jump by 66 per cent in recent days, fuelling speculation of a takeover bid.

In a statement released yesterday, LNG Limited stated that it “is not aware of or is in discussions in relation to a takeover.”

Regarding the Gladstone ‘Fisherman’s Landing’ LNG Project – LNG Ltd has proposed to build two 1.5 MMt/a LNG trains, along with associated infrastructure, at Fisherman’s Landing in Gladstone, Queensland, though the nature of the gas supply for the project is still being determined by the company.

LNG Ltd has extended the lease of the facility in Gladstone Port until March 2017.

The agreement with the Gladstone Ports Corporation also has an option to extend the lease until March 2018, subject to the project’s performance.

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