Icon, Shantou Sino Energy extend LNG deal deadline

Australia’s Icon Energy and Shantou Sino Energy of China said they have extended the completion deadline for a gas sales agreement between the two companies.

The new date for completion of the deal, which originally was signed in March 2011,  is on, or before 30 June 2018, Icon said in a statement on Friday.

After these changes, Shantou Sino Energy (as the buyer of LNG) is obliged to obtaining any necessary import approvals on or before 30 June 2018 from Chinese Government Authorities to allow the construction and operation of the receiving facilities and the purchase and import by it of LNG under the sales deal, according to the statement.

As part of the deal, Icon Energy needs to deliver to Shantou Sino Energy a Reserves Certificate of at least 2.0 TCF of Proven and Probable Reserves (2P) of natural gas and to obtain by on or before 30 June 2018 all required authorisations, the statement added.

Image: Icon Energy