Facing Cash Crunch, LNG Developer Sells Interest in Magnolia Export Project

摘要

LNG Ltd. (LNGL) said Tuesday it plans to sell its interest in a proposed liq- uefed natural gas (LNG) export project in Lake Charles, LA, to Global Energy Mega- trend Ltd. for $2.25 million. The announcement to sell stakes in proposed Magnolia LNG comes about a month after LNGL warned of a cash crunch because its lender ended funding and Sin- gapore-based LNG9 Pte Ltd. withdrew an ofer to acquire it.