Liquefied Natural Gas Limited
(ASX:LNG) says subsidiary Magnolia LNG has been told Meridian LNG will progress a 20 year tolling agreement with Magnolia.
The deal comes after Meridian LNG executed a sales agreement to supply gas for the next 20 years to E.On Global Commodities.
Magnolia’s Chief Commercial Officer Rick Cape says that progress is also being made on additional tolling agreements and Magnolia are confident they will close out on full production capacity.
Liquefied Natural Gas made a net loss of $20 million for the first six months of the 2015 financial year.
