Liquefied Natural Gas Limited (ASX:LNG, OTC ADR:LNGLY) substantial shareholder Valinor Management has increased its stake in the company to 9.45% from 8.32%.
Valinor acquired 5,245,469 shares at a total cost of $14,586,643.01, or an average of $2.78 per share, through a number of on-market trades between 4 December 2014 and 20 February 2015.
Shares in LNG last traded at $3.51.
Valinor now has a total of 43,720,343 shares.
Recently, the Bear Head LNG project in Richmond County, Nova Scotia, took a major step forward in the Canadian regulatory process.
The Canadian Environment Assessment Agency has concluded the proposed design will be substantially the same as that which was previously submitted and approved under the Canadian Environmental Assessment Act.
It also noted that since some construction of the LNG facility has already taken place, the Canadian Environmental Assessment Act, 2012 (CEAA 2012) does not apply to the LNG component of the project.
In addition, the proposed installed gas‐fired power generation is not considered to trigger CEAA 2012 since the project will not use natural gas to generate electricity.
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