LNG Energy Group targeted by trade ban after delayed filing

The Ontario Securities Commission has imposed a trading suspension on LNG Energy Group due to the non-filing of its annual financial statements for fiscal year 2024.

Partagez:

LNG Energy Group Corp., a company operating in the liquefied natural gas sector, is subject to a cease trade order issued by the Ontario Securities Commission (OSC) for failing to file its audited financial statements within the required timeframe. The suspension order was issued under Multilateral Instrument 11-103 – Failure-to-File Cease Trade Orders in Multiple Jurisdictions.

According to the company’s press release dated May 12, the required documents include the audited financial statements for the year ended December 31, 2024, the management’s discussion and analysis, and the compliance certificates signed by the Chief Executive Officer and Chief Financial Officer, in accordance with National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

Suspension applies to all relevant stock exchanges

The trading ban applies to all securities of the company listed on exchanges, including the Toronto Stock Exchange (TSXV), Frankfurt Stock Exchange (FWB), and over-the-counter markets in the United States (OTCQB). No direct or indirect trading is allowed until the overdue documents are filed and an official revocation request is submitted.

The legal basis for the order is the late filing beyond the April 30, 2025 deadline. LNG Energy Group has confirmed it is working actively with its auditors to submit the required documents within two months of the deadline, although no specific assurance was given regarding the exact timeline for the revocation.

90-day window for compliance

Under current regulations, if the documents are filed within 90 days from the date the order was issued, the submission will automatically be considered as the company’s application for revocation. However, the final decision remains at the discretion of the regulatory authorities.

The company has not disclosed the specific causes of the delay but stated in a previous release dated May 7 that it intends to meet the remedial timeline. No further information was provided on the potential impact of this situation on ongoing operations or international development plans.

The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.
After four years of interruption due to regional insecurity, TotalEnergies announces the upcoming resumption of its liquefied natural gas project in Mozambique, representing a $20bn investment.
The French group has acquired from PETRONAS stakes in several licences covering more than 100,000 km² off Malaysia and Indonesia, consolidating its Asian presence and its exposure to the liquefied natural gas market.
In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.
Egyptian fertilizer producers suspended their activities due to reduced imports of Israeli gas, following recent production halts at Israel's Leviathan and Karish gas fields after Israeli strikes in Iran.
A report identifies 130 gas power plant projects in Texas that could raise emissions to 115 million tonnes per year, despite analysts forecasting limited short-term realisation.
Japanese giant JERA will significantly increase its reliance on US liquefied natural gas through major new contracts, reaching 30% of its supplies within roughly ten years.