Icon restructures Chinese venture

摘要

Australian coalseam and shale gas explorer Icon Energy has unveiled a restructuring of its Chinese joint-venture partner in its ambitious plan to begin supplying 2 million mt/year of LNG to the energy-hungry Asian economy.rnIcon took the Australian market by surprise in April 2010 when it signed a memorandum of understanding to sell LNG to China's Shenzhen Sino Industrial Development Company (Shenzhen SinoGas) from its undeveloped gas resources in the states of Queensland, South Australia and Victoria. The MOU called for the delivery of 40 million mt of LNG over 20 years, or 2.2 Tcf/year, to a receiving terminal near Shantou City in southern Guangdong province from 2014. Icon has now formed a new joint venture - ShanTou SinoEnergy Company - to reflect the market destination of the gas in Shantou, said the managing director Ray James December 31.