LNG

March 13 (LNGJ) - LNG Ltd, the Australian stock exchange-listed company developing the Magnolia LNG project in Louisiana, has completed an equity share placement with the issue of 10 million shares at A$0.42 a share to institutional investors, raising $4.2 million (before costs), or US$ 3.8M. "The funds raised from the placement will be used to support a US$2M letter of credit condition under the recently executed precedent agreement with Kinder Morgan Louisiana Pipeline and for further development of Magnolia LNG," the Australian company said.