LNG

Hancock Energy, the oil and gas company run by entrepreneur Gina Rinehart, has increased its bid for the Perth Basin natural gas company Warrego Energy by almost 30 percent and has now outbid mining company Mineral Resources for the prize of a gas field stake with LNG feed-gas potential.

Mineral Resources Ltd (MRL) of Australia said it had made a “significant” natural gas discovery in the onshore Perth Basin from where other gas producers are planning LNG production and exports.