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Liquefied Natural Gas (LNGL)

Business description

Liquefied Natural Gas Ltd is an ASX-listed company devoted to the development of LNG export terminals in the US, Canada and other potential locations. It has traded ADRs.

Stock data

Market cap.A$296.5m
Last closeA$0.52
High / Low (52 weeks)A$0.7 / A$0.4
Stock market listingAU, US
Forecast net cash (A$m)46
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual16.96.1(18.8)
Relative *16.73.1(24.1)

* % Relative to local index

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Company news

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 7.3 (101.1) (115.1) (0.2) N/A N/A
2017A 0.6 (26.8) (29.2) (0.1) N/A N/A
2018E 0.3 (22.1) (29.1) 0.0 N/A N/A
2019E 0.0 (29.7) (37.4) (0.1) N/A N/A

Last updated on 18/06/2018

Latest research

Strategic investor enhances credibility in China

Update | Oil & Gas | 18/06/2018

Moving towards FID in 2018

ADR Outlook | Oil & Gas | 13/02/2018

Moving towards FID in 2018

Outlook | Oil & Gas | 13/02/2018

Improving macro environment

ADR Update | Oil & Gas | 29/11/2017

Improving macro environment

Update | Oil & Gas | 29/11/2017

Stonepeak increases its involvement

ADR Update | Oil & Gas | 10/07/2017

Stonepeak increases its involvement

Update | Oil & Gas | 10/07/2017

Marketing mode

ADR Update | Oil & Gas | 06/04/2017

Marketing mode

Update | Oil & Gas | 05/04/2017

Good start to the year

ADR Update | Oil & Gas | 31/01/2017

Good start to the year

Update | Oil & Gas | 31/01/2017

Magnolia progresses

ADR Update | Oil & Gas | 19/12/2016

Investment summary

On 4 June 2018, Liquefied Natural Gas Ltd (LNGL) announced a strategic investment by IDG Energy Investment Group (IDG Energy), a Hong Kong-listed investment holding company affiliated to IDG Capital with assets under management of c $20bn. The share placement raised gross proceeds of A$28.2m at a price of A$0.5/share (a 14.1% premium to 30-day volume weighted average price to 1 June 2018). We believe the share placement will cover Magnolia pre-FID costs and cash burn through to mid-2020. In addition, the presence of IDG Energy as a major shareholder (9.9% of share capital) will enhance credibility in China, a principal growth market for liquefied natural gas (LNG) imports. Our valuation, which we have updated to reflect funds raised and fx, rises 1% from A$1.00/share (US$3.23/ADR) to A$1.01/share (US$3.18/ADR).

Last updated on 18/06/2018

Industry outlook

LNGL has few listed peers. Cheniere is much larger and already producing, while Tellurian (owner of the Driftwood LNG project) and Next Decade (IPO ongoing) are planning much larger projects, but are some way behind the Magnolia project on regulatory approvals.

Last updated on 27/04/2018

Key management

Richard Beresford, Chairman
Mike Mott, CFO
Norman Marshall, CFO

Company address

Ground Floor
5 Ord Street
West Perth
WA
6005
Australia
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