Arrow Energy to acquire Fisherman’s Landing LNG Project

The agreement is subject to the completion of confirmatory due diligence by Arrow and LNG Ltd gaining shareholder approval for the transaction at a meeting expected to be held within the next 45 days.

Arrow will be acquiring the LNG Ltd subsidiary Gladstone LNG that holds the rights to develop the Fisherman’s Landing site, all approvals and the pre-development work.

Arrow will now focus on full integration of the design and construction plans for the Fisherman’s Landing LNG facility into its overall project development plan. At this stage first LNG production is still expected in late 2012.

As a result of the above restructure, Golar Energy Ltd (Golar) and Arrow are in discussions to transfer the existing LNG Off-take Heads of Agreements with Golar / Toyota Tsusho to Arrow.
www.arrowenergy.com.au