Liquefied Natural Gas (ASX:LNG) announced this morning it will suspend all activity related to the redomicile of its company to the United States in order to focus on current business.
The company said its board made the decision to maintain its focus on marketing the offtake at Magnolia LNG and Bear Head LNG.
CEO and Managing Director Greg Vesey said the company and its board are continuing to monitor market conditions to potentially re-engage in redomicile efforts.
LNG Chairman Paul Cavicchi said a listing in the US is the right step for LNG but must be proceeded at the optimal time to maximise investor value.
Its Magnolia project is based in the US and Bear Head is based in Canada.
Shares in Liquefied Natural Gas (ASX:LNG) last traded up 14.12 per cent higher to 48.5 cents a share.