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Pieridae Energy to Acquire Access to Alberta Gas Reserves

Pieridae Energy Limited (Pieridae), sponsor of the proposed Goldboro LNG project in Nova Scotia, and Ikkuma Resources Corp. (Ikkuma) have announced that they have entered into a definitive agreement providing for the acquisition by Pieridae of all of the issued and outstanding shares of Ikkuma, which “will provide Pieridae with ownership of an extensive area of producing and gas-prone...

Venture Global LNG Announces Additional $160 Million in Funding

Venture Global LNG, Inc. announced that it has raised additional private capital of approximately $160 million, bringing funding to a total of $630 million to support the development of both the proposed 10 million tonnes per annum (MTPA) Calcasieu Pass liquefaction and export terminal on the Gulf of Mexico and the proposed 20 MTPA Plaquemines LNG liquefaction and export terminal on...

NextDecade Sells $50 Million in Convertible Stock

NextDecade Corporation (NextDecade) announced that it has agreed to sell $50 million of convertible preferred stock: $35 million worth to HGC NEXT INV, LLC and $15 million worth to funds and accounts managed by each of York Capital Management Global Advisors, LLC and its affiliates, Valinor Management, L.P., and Halcyon Capital Management LP.  According to the press release, NextDecade...

Woodside Petroleum Backs Out of Port Arthur LNG Project

Bloomberg reports that Woodside Petroleum Ltd. has announced that it will not participate in the development of Sempra Energy’s proposed Port Arthur LNG liquefaction facility and export terminal in Port Arthur, Texas. Woodside Chief Executive Officer Peter Coleman is quoted as saying, “[i]t got to a point where it got below our investment returns and we said we need to put our money...

LNG Limited Raises A$28.2 Million For Magnolia LNG Offtake Marketing Efforts

Australian company Liquefied Natural Gas Limited (LNGL) has announced that it has entered into a binding subscription agreement with IDG Energy Investment Group Limited for a Share Placement which will raise gross proceeds of A$28.2 million. According to the press release, following the close of the Share Placement, IDG Energy Investment will hold a 9.9% interest in LNGL. Net proceeds...

Petronas Buys 25% Share of LNG Canada Project

LNG Canada has announced that Malaysia’s state-owned oil and gas company Petronas, through its wholly-owned entity, the North Montney LNG Limited Partnership, is buying a 25% share in LNG Canada’s proposed LNG export project at Kitimat, British Columbia.  Once the deal is completed, LNG Canada’s ownership interests will be Shell at 40%, Petronas at 25%, PetroChina at 15%, Diamond LNG...

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