Liquefied Natural Gas Limited (ASX: LNG) will start negotiations with PetroChina Australia regarding gas supply for its planned 3 million tonne per annum Fisherman’s Landing LNG Project in Gladstone, Queensland.
Under the Tolling Agreement, which is an important foundation step in its gas supply plan for Fisherman’s Landing, LNG Limited will receive a fixed Capacity Reservation Fee and also a Tolling Fee calculated on the quantity of LNG loaded onto LNG ships.
Discussions and negotiations are continuing on further tolling arrangements, together with potential gas purchase opportunities and direct acquisition of upstream gas resources.
This includes a potential takeover bid for Westside Corporation (ASX: WCL).
PetroChina gas supply
PetroChina, a related company of LNG Limited’s largest shareholder (19.9%) China Haunqiu Contracting & Engineering Corporation, is buying Molopo Energy’s (ASX: MPO) coal seam gas assets in the Bowen Basin, Queensland.
These assets are located just 150 kilometres from Gladstone and hold proved, probable and possible gas reserves of 812 petajoules net to Molopo.
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Under the Tolling Agreement, which is an important foundation step in its gas supply plan for Fisherman’s Landing, LNG Limited will receive a fixed Capacity Reservation Fee and also a Tolling Fee calculated on the quantity of LNG loaded onto LNG ships.
Discussions and negotiations are continuing on further tolling arrangements, together with potential gas purchase opportunities and direct acquisition of upstream gas resources.
This includes a potential takeover bid for Westside Corporation (ASX: WCL).
PetroChina gas supply
PetroChina, a related company of LNG Limited’s largest shareholder (19.9%) China Haunqiu Contracting & Engineering Corporation, is buying Molopo Energy’s (ASX: MPO) coal seam gas assets in the Bowen Basin, Queensland.
These assets are located just 150 kilometres from Gladstone and hold proved, probable and possible gas reserves of 812 petajoules net to Molopo.
Read More
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