LNG’s Magnolia to supply India’s Kakinada Port with Gas

Company News

by Jessica Amir

Liquefied Natural Gas Limited (ASX:LNG) has announced its subsidiary, Magnolia, has signed a heads of agreement (HOA) with Vessel Gasification Solutions.

The agreement allows Magnolia to supply 20 years of LNG volumes to India’s Kakinada Deepwater terminal.

The non-binding agreement is for up to 4 million metric tonnes per annum.

LNG says it looks forward to supplying long term volumes to the Indian market, to meet their growing demands for clean energy.

Liquefied Natural Gas posted a net loss of $115.11 million at 30 June 2016.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.