02 August 2012 11:44 [Source: ICIS news]
SINGAPORE (ICIS)--PetroChina will help secure gas supply for the proposed 3m tonne/year LNG project of ?xml:namespace>
PetroChina International Investment (
PetroChina’s wholly-owned subsidiary China Huanqiu Contracting & Engineering Corp (HQC), which is the engineering, procurement and construction (EPC) contractor of the project, has a 19.9% stake in LNG Ltd and is the largest shareholder the Australian firm.
The LOI provides that LNG Ltd and PetroChina will work together to ensure sufficient gas supply for the LNG project. The non-binding agreement states that PetroChina Australia will on selective basis acquire prospective gas assets in Queensland, or enter into supply agreement with parties owning gas assets in the area, LNG Ltd said.
The deal follows an important acquisition of coal bed methane (CBM) assets in
PetroChina would deliver the
($1 = A$0.95)
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