Global Energy Megatrend Ltd., the new owner of the US Magnolia LNG export project, counts among its six named directors, Lord Peter Lilley, a former UK Conservative government minister under Margaret Thatcher and John Major.

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The US export project, Magnolia LNG, and its owners LNG Ltd have been purchased by a London-listed energy infrastructure firm for US$2.25 million from Australian insolvency administrators appointed to oversee asset dispersals.

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The Australian-listed developer of the US Magnolia LNG plant in Louisiana with an export accord to supply cargoes for Vietnam has run out of money and time after a takeover by a private firm from Singapore fell through, along with short-term financing arrangements.

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Shale regions of the US oil and gas industry, which are at the centre of the shale-gas boom for LNG exports and the availability of more domestic oil supplies, hit a record value in terms of mergers and acquisitions in the first quarter of 2017, according to a new report.

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