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LNG managing director Maurice Brand. Photo: Attila Csaszar

LNG Ltd moves for US approval

A subsidiary of Perth company Liquefied Natural Gas has filed for a permit to export gas from the US to a planned LNG plant in Canada.

Bearhead, which was purchased in August by LNG for $US11 million from Anadarko Petroleum, will have an initial production capacity of 8 million tonnes per annum.

The authorisation, which would require approval by the US Department of Energy, would apply for 25 years.

The company is seeking approval to export up to 1.4 billion cubic feet of gas to Canada per day.

It follows an application to the Canadian National Energy Board, to allow the liquefied gas to be re-exported from Canada.

Bearhead chief operating officer John Godbold said it was a significant step forward for the Nova Scotia facility.

“With all of Bear Head LNG’s major Canadian approvals in place or moving through the regulatory process, we are on schedule to begin commercial operation in late 2018 to early 2019,” he said.

LNG has had a stellar year, with strong gains in its share price delivering a total shareholder return of more than 1,600 per cent for the 12 months to June 30.

The gains have primarily been on the back of progress at its Magnolia LNG project in Lousiana.

Gas prices in America are down by a third from a peak earlier this year, but have decoupled somewhat from lower global prices due to the country’s unique regulatory settings for domestic gas supplies.

Worldwide, natural gas prices tend to reflect changes in the price of oil.

LNG was up 0.8 per cent to $2.50 per share at the close.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
153rdEcho Resources87%19%
248thCastle Minerals40%-25%
404thTNG8%14%
699thLiquefied Natural Gas-40%8%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

19/12/17
$0 Issued
19/12/17
$0 Issued
19/12/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

138th↑Castle Minerals$563k
139th↑Echo Resources$557k
140th↓Liquefied Natural Gas$551k
141st↑Capital Mining$550k
142nd↑TNG$504k
498 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Liquefied Natural Gas

336thRichard Beresford$340k
568thPaul Cavicchi$242k
613thMichael Steuert$225k
Ranked by total remuneration from all listed WA companies

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