The decision comes after a review of the company’s asset portfolio, where it was decided the cost associated with maintaining the FLLNG Project weren’t worth pursuing.
“The closure of the Fisherman’s Landing LNG Project was not an easy decision by the company,” said LNG Limited Managing Director and CEO Greg Vesey.
“However, after many years without success in securing the long-term economic gas supply that would be needed to proceed with project construction, we made the strategic decision to close the project.”
LNG Limited is completing efforts to relinquish the site to the Gladstone Ports Corporation and notify other relevant regulators.