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Liquefied Natural Gas Limited To Make Share Placement

Liquefied Natural Gas Limited (ASX:LNG, OTCMKTS:LNGLF) has been granted an ASX trading halt regarding a placement of shares.

The halt will last until the earlier of the company making an material announcement on the placement or the commencement of trade on Wednesday, 30 July 2014.

The company had earlier today said it was acquiring the Bear Head LNG Project in Nova Scotia, Canada, from Anadarko Petroleum Corporation for US$11 million.

This will diversify and reduce risk for LNG Limited in the North American LNG sector.

Previous work by Anadarko is expected to result in lower development costs and faster approvals compared to Magnolia LNG.

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