The company behind a proposed liquefied natural gas facility and pipeline in Richmond Co. is on the block.
Officials with Australia-based Liquefied Natural Gas Ltd. say they spent the past year evaluating offers, and they’ve received a takeover offer from Singapore-based LNG9 to buy 100 per cent of LNGL shares, and potentially take the company private.
They say they’re recommending their shareholders accept the offer, as it is the best they could find.
LNGL reps applied for a three-year extension for their Bear Head and Bear Paw projects in Point Tupper in October; members of the Nova Scotia Utility and Review Board approved the request in December.
The construction permits expire in 2022.
