Australia Pacific LNG and Sinopec sign Heads of Agreement for LNG supply and 15% equity interest

abarrelfullabarrelfull wrote on 25 Feb 2011 06:33
Tags: australia australia-pacific conoco lng origin sinopec

Australia Pacific LNG Pty Ltd and China Petrochemical Corporation have signed a Heads of Agreement establishing non-binding key commercial terms for the supply of up to 4.3 million tonnes per annum of LNG for 20 years and for Sinopec to subscribe for a 15% ownership interest in Australia Pacific LNG, thereby reducing both ConocoPhillips' and Origin Energy's ownership interest to 42.5%.

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