Australia’s LNGL Announces Sales Agreement of US-Based LNG Project

摘要

Australia’s Liquefied Natural Gas Limited (LNGL) on 12th announced its decision to sell assets of the US-based Magnolia LNG production project. It has entered into a binding deal to sell the assets to Global Energy Megatrend Limited for US$2.25 million. The two companies aim to close the transaction by 15th this month. LNGL, which is facing financial difficulties, is now under voluntary administration by PricewaterhouseCoopers Australia (PwC Australia). PwC Australia explained that liabilities associated with the Magnolia LNG Project would pass to the Acquirer by disposing of the project entities.