LNG Limited squashes takeover rumors

Australian LNG terminal developer LNG Limited on Thursday issued a comment declining media reports of a possible takeover, that was reported as a reason for the recent surge in the company’s shares price.

The company noted in its short filing to the stock exchange that it is “not aware of or is in discussions in relation to a takeover.”

The rumours came following more than a 50 percent rise in company’s shares since last week that are now trading at A$1.075.

The company previously responded that it has no explanation for the price change, and had no information that could explain the trading in its securities.

Perth-based LNG player has three LNG export terminal projects under development in the United States, Canada, and Australia with a combined aggregate design production capacity of nearly 20 mtpa, with a further expansion option of up to 4 mtpa in Canada, according to its website.

LNG Limited’s portfolio includes the Magnolia LNG export terminal in Louisiana, U.S., Bear Head LNG in Nova Scotia, Canada, and Fisherman’s Landing project in Gladstone, Australia.

LNG World News Staff