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LNG to seek US listing

LNG managing director Maurice Brand. Picture: Steve Ferrier/The West Australian.

LNG Ltd has signalled its intention to seek dual listing in the US once it begins construction on its Magnolia LNG project in Louisiana.

LNG's board made the decision after receiving options submitted by five investment banks but has not yet decided on the exact timing, the format or the exchange on which the company will list.

"The company's American Depositary Receipts (ADRs) are already traded on the OTC International platform in the United States under the symbol LNGLY, and a dual listing is the logical next step," the company said in a statement.

Some of the company's biggest shareholders are US institutions and hedge funds.

LNG shares were up five cents, or 1.43 per cent, to $3.54 at 8am.