Liquefied Natural Gas Limited: Half Year Report and Appendix 4D

Perth, Feb 29, 2016 - Liquefied Natural Gas Ltd (ASX:LNG) (OTCMKTS:LNGLY) Limited holds a strong competitive position in the mid-scale LNG industry with our three LNG projects: Magnolia LNG, in Lake Charles, Louisiana, USA; Bear Head LNG in Richmond County, Nova Scotia, Canada; and Fisherman's Landing LNG, in Queensland, Australia.

The projects anticipate near term achievement of full permitting and regulatory approval, have completed project engineering to advanced stages, and are ready to progress to construction..

Our patented OSMR® technology platform provides tangible competitive cost and efficiency advantages.

Like others in the energy industry, current weakness in energy markets and other factors, have affected LNGL's progress in signing sufficient binding offtake to enable the projects to move at planned pace to FID, financial close, and construction. LNGL's ongoing work program reflects the impact of slowing industry conditions and includes:

- Commercial focus on signing binding offtake agreements for Magnolia LNG;

- Placing on hold our EPC-related contracts;

- Finishing residual engineering, regulatory, and permitting work on our projects;

- Maintaining the projects in "ready mode" to enable fast track ramp-up once sufficient levels of binding offtake agreements are signed; and

- Conservatively managing our cost base.

LNGL has approximately A$114 million of cash at 1 January 2016 (inclusive of restricted and unrestricted funds). In applying our cost management strategy, our existing cash position sustains the business through to calendar year-end 2018. We believe that within this timeframe we will conclude sufficient offtake agreements to progress one or more of our projects to FID and financial close.

We remain confident in our fundamental view of global gas demand and the role the LNG industry has in meeting that demand. LNGL is well placed to participate in that delivery through execution of its Energy Link strategy.

To view the full half year report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-LNG-754499.pdf


About Liquefied Natural Gas Ltd

Liquefied Natural Gas Limited (ASX:LNG) (OTCMKTS:LNGLY) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:

- Magnolia, a US-based subsidiary, which is developing an 8 mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;

- Bear Head LNG Corporation, a Canadian based subsidiary, which is developing an 8 mtpa or greater LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;

- Gladstone LNG Pty Ltd, a subsidiary which plans to develop the 3.5 mtpa Fisherman's Landing LNG (FLLNG) Project at the Port of Gladstone in Queensland, Australia; and

- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a mid-scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.



Contact

Mr. Maurice Brand, Managing Director & CEO
LNG Limited
+61 8 9366 3700

Mr. Mike Mott, Chief Financial Officer
LNG Limited
+1 713 815 6909

Mr. Rick Cape, Chief Commercial Officer
Magnolia LNG LLC
+1 713 815 6915