LNG

June 13 (LNGJ) - LNG Ltd, the Australian-based developer of the Magnolia LNG project in Louisiana and the Canadian Bear Head venture in Nova Scotia, has completed a share placement with a new Chinese investor, IDG Energy Investment Group. The shares of LNG Ltd are listed on the Australian Securities Exchange and the share placement with IDG raised A$28.2 million (US$21.5M). IDG was formerly known as Shun Cheong Holdings and is registered in Bermuda as well as being quoted on the Hong Kong stock exchange. LNG Ltd said the proceeds from the placement would be used to support offtake marketing efforts, focused on Magnolia LNG, and for general corporate purposes.