Liquefied Natural Gas Limited (ASX:LNG, OTC ADR:LNGLY) managing director Maurice Brand has aligned himself with the company’s success by acquiring $264,000 worth of shares on market.
His indirect interests purchased 100,000 shares priced at $2.64 each, taking his total stake up to 4.6 million shares.
Shares in LNG Limited are currently trading at $2.73.
In July, the company signed its first legally binding liquefaction tolling agreement with Meridian LNG Holdings Corporation for its 8 million tonne per annum (Mtpa) Magnolia LNG project in Louisiana.
This covers firm capacity rights of up to 2Mtpa of liquefied natural gas for 20 years.
LNG Limited has entered into a supplier alliance agreement for Chart Industries, Inc. (NASDAQ:GTLS) to provide liquefaction cold boxes and heat exchangers initially to Magnolia LNG and potentially to other projects such as Bear Head LNG in Nova Scotia, Canada.
It also reiterated previous EBITDA guidance for Magnolia LNG of US$2.50 per million British Thermal Units or greater.
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