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LNG Limited to exit the Fisherman’s Landing LNG project

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LNG Industry,

LNG Limited has announced that it has decided to no longer fund the costs associated with maintaining the Fisherman’s Landing LNG Project at the Port of Gladstone in Queensland, Australia, and to exit the project.

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.”

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