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BRIEF-Liquefied Natural Gas Announces Further Information On Supply Deal To Vietnam

Published 17/09/2019, 07:49 pm
Updated 17/09/2019, 07:50 pm
© Reuters.  BRIEF-Liquefied Natural Gas Announces Further Information On Supply Deal To Vietnam

Sept 17 (Reuters) - Liquefied Natural Gas Ltd LNG.AX :

* FURTHER INFORMATION ON SUPPLY DEAL TO VIETNAM

* DELTAOE AND MAGNOLIA ARE OBLIGATED TO USE REASONABLE EFFORTS TO NEGOTIATE AND AGREE BINDING TERMS AND CONDITIONS OF SPA

* ARRANGEMENT BETWEEN MAGNOLIA AND DELTAOE WILL TERMINATE IF SPA HAS NOT BEEN EXECUTED BY OCTOBER 31, 2019

* PRICING TO BE CONSISTENT WITH MAGNOLIA'S EARLIER ANNOUNCED MARKET COMPETITIVE FIXED LIQUEFACTION FEE OF 113% OF HENRY HUB PRICING

* SPA SUBJECT TO MAGNOLIA REACHEING "FINANCIAL CLOSE" REGARDING FINANCING FOR MAGNOLIA LIQUEFACTION PROJECT BY DEC 31, 2019

* PRICING TO ALSO INCLUDE MONTHLY FIXED FEES FOR LNG LIFTING

* INTEGRATED PROJECT ANTICIPATED TO START OPERATIONS IN 2023

* CONFIDENT TO BRING NEGOTIATIONS WITH DELTA OFFSHORE ENERGY TO A SUCCESSFUL CLOSE

* FINANCIAL CLOSE IS DEPENDENT ON MAGNOLIA SECURING SUFFICIENT OFFTAKE AGREEMENTS TO SUPPORT FINANCING

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