Aborted Loan Threatens Gulf Coast, Nova Scotia Cracker Projects

LNG Limited, based in Australia, has been working on a couple of North American LNG export projects over the past half-decade or more. One of them, called Bear Head, would be built in Nova Scotia, Canada and (potentially) export Marcellus/Utica molecules. The other, Magnolia LNG, would be located in Louisiana and yes, potentially export M-U molecules as well. LNG Limited is in the process of selling itself and its LNG projects to Singapore investor LNG9 PTE for $75 million, a deal expected to close around the end of May. However, LNG Limited needs more cash to keep the doors open until then. First Wall Street Capital Corp. recently bailed on giving LNG Limited a bridge loan to get them through.

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