LNG Limited claims that this follows a review of the company’s asset portfolio. The company is completing efforts to relinquish the site to Gladstone Ports Corp. and notify other relevant regulators. LNG Limited claims that these actions are not expected to have a material impact on its current cash management plan.
The Managing Director and CEO of LNG Limited, Greg Vesey, said: “The closure of the Fisherman’s Landing LNG Project was not an easy decision by the company. However, after many years without success in securing the long-term economic gas supply that would be needed to proceed with project construction, we made a strategic decision to close the project.
“We are grateful to the GPC and the Queensland Government for their support of the FLLNG Project over the last several years.”
Read the article online at: https://www.lngindustry.com/liquefaction/07062017/lng-limited-to-exit-the-fishermans-landing-lng-project/