Australia Pacific LNG and Sinopec International Petroleum Exploration & Production Corp (SIPC) have also signed a subscription agreement for SIPC to subscribe for a 15% interest in Australia Pacific LNG.
The agreements are subject to approvals by the Chinese government and the Foreign Investment Review Board in Australia, and are conditional on Australia Pacific LNG reaching a final investment decision.
The LNG volumes from Australia Pacific LNG will underpin Sinopec’s yet to be constructed Guangxi terminal and could also be directed to other LNG import and gasification terminals within China.
