Liquefied Natural Gas Limited
(ASX:LNG) has signed a binding agreement with Meridian LNG.
The liquefied natural gas developer says the deal will firm capacity rights for up to 2 million tonnes per annum at its Magnolia LNG project.
Magnolia will provide liquefaction services to Meridian LNG over the term of the contact in return for monthly capacity payments.
The liquefaction tolling agreement is for an initial term of 20 years with option to extend by a further five years.
Liquefied Natural Gas reported a net loss of $20.04 million in the first half of the 2015 financial year.
