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Liquefied Natural Gas Ltd's shares leap higher on Stonepeak commitment

Magnolia is developing an 8 mtpa or greater LNG export terminal.

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LNG's shares have received a boost

Liquefied Natural Gas Ltd's (ASX:LNG) shares are trading 18% higher at $0.66 per share in morning trade.

Driving the re-rating is the news that wholly-owned subsidiaries have entered into an amended and restated Magnolia LNG equity commitment agreement with Stonepeak Partners LP and have updated the associated Magnolia LLC Agreement.

The agreement governs the relationship, cooperation, rights, and obligations between Stonepeak and LNGL through Financial Close of Magnolia.

The Stonepeak transaction is a Magnolia LNG project level finance transaction which does not impact Bear Head LNG or LNGL shareholders’ interest in LNGL.

Magnolia is developing an 8 mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, U.S.

Quick facts: Liquefied Natural Gas Ltd

Price: 0.12 AUD

ASX:LNG
Market: ASX
Market Cap: $69.2 m
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