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Liquefied Natural Gas Limited substantial shareholder Baupost ups stake

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Liquefied Natural Gas Limited (ASX:LNG) substantial shareholder and one of the world’s largest hedge funds, The Baupost Group has increased its stake in the company to 10.08% from 8.82%.

Seth Klarman's Baupost also holds a 2.38% stake in Cheniere Energy (NYSEMKT:LNG), a US$14.7 billion market cap that expects to export its first LNG from the U.S. in 2015.

From 5 August 2014 to 10 October, Baupost acquired 5,845,000 shares at prices between $2.77 and $3.46 each.
    
This brings its total holding up to 46,529,906 shares.

The company's Federal Energy Regulatory Commission (FERC) approval process for the proposed 8 million tonne per annum Magnolia LNG export project located in Lake Charles, Louisiana, U.S is on track.

In August, it finalised its acquisition of the Bear Head LNG project in Nova Scotia, Canada, from Anadarko Petroleum Corporation (NYSE:APC) for US$11 million.

This gives it a second North American LNG project that expands and diversifies its development pipeline.



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Quick facts: Liquefied Natural Gas Ltd

Price: 0.205 AUD

ASX:LNG
Market: ASX
Market Cap: $118.2 m
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