PERTH (miningweekly.com) – The board of ASX-listed Liquefied Natural Gas (LNG) has taken the decision to list on an "appropriate" US exchange once it nears construction of its Magnolia LNG project, in the US.
The company said on Wednesday that the decision to dual list resulted from a review of options submitted by five investment banks. The exact timing of the US listing had not yet been decided, nor had the size or format of any capital raising to be undertaken.
LNG said that following the listing, the company would consider further options to unlock value for shareholders at the North American asset or project level.
An initial development plan for the Magnolia project had determined that it would consist of two LNG trains, with a total capacity of four-million tonnes a year.
In 2014, LNG also acquired the Bear Head LNG project, in Canada. The project includes 225 acres comprising industrial-zoned land and deep-water acreage, as well as foundations for two 180 000 m3 LNG tanks for a proposed 11.3-million-tonne-a-year LNG import terminal.