LNG Ltd. and Oil Basins Sign Strategic Alliance Agreement (Australia)
The Board of Liquefied Natural Gas Limited is pleased to advise that the Company has entered into a Strategic Alliance Agreement with Oil Basins Limited to jointly investigate the development of an LNG project in North Western Australia (Kimberley LNG Project).
The Kimberley LNG Project is based on utilising the potential large resources of conventional and unconventional gas contained within the Canning Basin, including gas contained within OBL’s acreage and that of its joint venture partners.
In addition, the Company participated in the recent OBL share placement and holds a 4.9% shareholding in the company.
The proposed Kimberley LNG Project will benefit from the advanced development work undertaken by the Company for its Gladstone LNG Project, at Fisherman’s Landing, Port of Gladstone, Queensland.
Such development work includes completion of front end engineering and design and provision of a fixed price EPC proposal for the first 1.5 million tonne per annum LNG train.
OBL is involved in the exploration for oil and gas in the offshore Gippsland Basin of south-eastern Australia, the onshore Canning Basin of Western Australia and more recently the offshore waters of the Carnarvon Basin.
All areas of interest are situated in proven hydrocarbon regions of Australia and nearby to established infrastructure hubs.
Source: LNG Limited, August 10, 2010;