LNG

Jan 31 (LNGJ) - LNG Ltd of Australia said in its latest earnings statement it was determined to go ahead with its 3 million tonnes per annum LNG plant at Fisherman's Landing in the Port of Gladstone, Queensland. The company had been about to commence construction of the LNG project in October 2009, but in March 2010 suspended operations due to Arrow Energy, the proposed feed-gas supplier, being the subject of a corporate takeover by Shell and PetroChina. LNG Ltd. has all relevant approvals to recommence construction as soon as gas supply is secured. Since July 2011, the company pointed out it has been actively working with its major shareholder, HQC (a wholly owned subsidiary of China National Petroleum Corp.), to secure gas supply and restart development.