Crown LNG Announces Execution of Final Agreements to Acquire Kakinada and Grangemouth LNG Import Terminal Assets
Crown LNG Holdings Limited - Ordinary Shares (CGBS)
Company Research
Source: GlobeNewswire
LONDON, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Crown LNG Holdings Limited (Nasdaq: CGBS) (“Crown” or “Crown LNG”), a leading provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, today announced the conclusion of two strategic acquisition agreements forming the basis of Crown LNG's entry into the global LNG infrastructure network: KGLNG and Grangemouth. The KGLNG agreement finalizes the acquisition of all shares of KGLNG, which owns the operating license for the Company’s planned LNG import terminal in Kakinada, India. The Grangemouth agreement finalizes the acquisition of LNG import terminal assets in Grangemouth, Scotland from GBTron Lands Limited. The Kakinada project, located on the East coast of India, is licensed to operate 365 days a year, a first for the harsh weather prone area. Imported gas from the planned terminal would reach demand centers via the East-West Pipeline, helping to support the Indian government’s drive to more than d
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