Liquified Natural Gas Limited cashing in on prospect of success in US

Shares in Liquefied Natural Gas Limited (ASX:LNG) have
undergone a steady climb over the past three months, spiking sharply to a peak
of $1.36 on Friday.

The as-yet unproductive gas company was trading between 16c
and 30c in January.

The Perth company announced to the ASX on Friday a
placements of 58,792,746 fully paid ordinary shares to investors in Australia
and overseas.

LNGL has an interest in the United States, with plans to build a gas liquification plant in Louisiana, in the port of Lake Charles.

The company intends to build the Magnolia plant with four
trains, each capable of producing 2 mtpa of LNG.

So far, plans for a two-train plant are slated to cost
$US2.2billion, with first gas in mid-2018.

Construction of the plant with go to South Korean SK Engineering
and Construction.

LNGL shares prices are currently down to $1.25.

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