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LIQUEFIED NATURAL GAS LIMITED - ASX: LNG
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Description
Liquefied Natural Gas Limited is an Australian public listed company (ASX: LNG) based in Perth, Western Australia, Liquefied Natural Gas Limited is parent company to a number of subsidiaries (the "Group"). Our vision is to bring a dynamic concept of mid-scale liquefied natural gas ("LNG") projects to the international energy market.
Our objective is to create substantial shareholder value by combining innovation, enterprise and leading edge technology. Our corporate strategy is to become the leader in the mid-scale LNG sector of the international energy market by identifying and then supplying "fast-track" energy solutions to both gas suppliers and energy users who would otherwise not have access to natural gas or have a mismatch of LNG supply and demand due to the long lead time to develop major LNG projects.
Gladstone LNG Project - Fisherman's Landing
Gladstone LNG Pty Ltd (Gladstone LNG) - is developing a mid-scale (3.0 million tonne per annum) liquefied natural gas plant at Fisherman's Landing in the Port of Gladstone. The plant at Fisherman's Landing will purify and liquefy coal seam gas (CSG) into liquefied natural gas (LNG). It will then be loaded onto LNG carriers for export secured against long term LNG Sales Agreements.
Staged Development of Project
Gladstone LNG has planned the Project in two stages, with the first stage consisting of operating a single processing train (Train 1), which will provide a guaranteed capacity of 1.5 million tonnes of LNG per year. A second train (Train 2), will follow, which will double the operational capacity of the plant to a guaranteed 3.0 million tonnes of LNG per year. The expected life of the Project is 25 years.
LNG Carrier Movements
Due to the mid-scale production rate of the plant, LNG carriers will enter the port once every three weeks with the operation of Train 1. This frequency will double when Train 2 is installed. During the LNG loading process, the LNG carrier will be berthed for approximately 24 hours.
Who is Responsible for the Project
Gladstone LNG is a subsidiary of the publicly listed Australian company Liquefied Natural Gas Ltd (LNG Ltd). Gladstone LNG is responsible for the proposed planning, construction and operation of the LNG plant at Fisherman's Landing, including treatment and liquefaction facilities, storage tanks and jetty / ship loading facilities.The Project will be dependent upon the following activities to be provided by others:
Gladstone Ports Corporation- (GPC) undertaking structural modifications and extensions to the existing Fisherman's Landing Wharf and dredging of the berth pocket and nearby channel.
Gas Supply
The Fisherman's Landing LNG Projected was initially to be supplied with gas by Arrow Energy Ltd. However Arrow has now been acquired by a joint venture between Shell and PetroChina, and gas supply is no longer available from their gas reserves. The company is currently pursuing alternative gas supply for Fisherman's Landing from several CSG companies, including Metgasco Limited (ASX:MEL), in which LNG Ltd currently holds a 5.04% shareholding. On 24 September 2010 LNG Ltd signed a Memorandum of Understanding for the joint study of gas supply from Metgasco's significant CSG resource.
Mine For
Liquefied natural gas, coal seam gas
Location of operation(s)
Queensland
Address
Ground Floor , 5 Ord Street
WEST PERTH, WA, AUSTRALIA
Phone
08 9366 3700
Website
Last Updated
24/03/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
