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.