Liquefied Natural Gas Limited
(ASX:LNG) says its flagship Magnolia LNG Project in America is on track to deliver its first LNG in 2018 and talks are continuing for offtake agreements.
The liquefied natural gas developer has also announced its Managing Director and Magnolia LNG President Maurice Brand will relocate to Houston next month.
Mr Brand’s move will be to assist management to ensure the project’s timetable is realised and Magnolia achieves financial close this year.
Mr Brand also hopes the relocation will facilitate corporate matters including the company’s proposed dual share listing on both the ASX and New York Stock Exchange.
Liquefied Natural Gas reported a net loss of $20.04 million in the first half of the 2015 financial year.
