Liquefied Natural Gas Limited’s trading has been halted in relation to its shares’ placement, which will last until the company’s announcement of material assignment.
Liquefied Natural Gas Limited’s blocked trading will likely last until Wednesday, 6th of August 2014, otherwise the company will release its material placement announcement and declaration of trading commencement.
For an amount of US$11 million, the company will be held responsible for Bear Head LNG Project acquisition, a company based in Nova Scotia, Canada. The trade will be in between Liquefied Natural Gas Limited and Anadarko Petroleum Corporation. The purpose of the purchase is to reduce the company’s North American sector’s risk. Diversification is part of the plan as well. Anadarko’s efforts seem to be potential for Liquefied Natural Gas Limited since it is attached with faster approvals and lower operational costs compared to Magnolia LNG. The project is expected to cost similarly to its $2.2 billion US project.
Liquefied Natural Gas Limited has a good trading record this year, as exampled by its Sydney arrangement that resulted to 11-fold returns to the company. Its market value rocketed during the early year start (from A$100 million to A$1.45 million). The company had already attracted big investors, including Baupost Group LLC, a company based in Boston.