LNG Ltd a step closer to creating new Gladstone plant
LNG Limited is a step closer to creating a new plant at Fisherman's Landing following completion of the purchase of Molopo Energy Limited's Queensland coal seam gas assets.
PetroChina Australia and LNG Ltd have secured gas supply for the company's 100% owned, three million tonne per annum LNG project in Gladstone.
The companies will work together to secure sufficient gas for the first LNG train, of a guaranteed LNG production capacity of 1.5 mtpa.
This includes the Molopo Queensland CSG assets acquired by PetroChina Australia.
In an announcement to the ASX, managing director Maurice Brand said the purchase was an important step for the company to secure gas supply for the LNG project.
"The parties are continuing to work together to secure the balance of gas required and finalise all the necessary commercial arrangements for the LNG project to proceed to final investment decision as soon as possible," he said.