PetroAsian, China LNG Sign Non-Binding MoU

PetroAsian Energy said it has entered into a non-binding Memorandum of Understanding (MoU) with China LNG Group.

“Under the MoU, it is proposed that the company will cooperate with China LNG in developing the LNG businesses in China and/or to subscribe for number of new shares in China LNG or its subsidiaries,” PetroAsian said in a statement.

“The consideration for the possible transactions will be determined by further negotiation between the company and China LNG,” it added.

China LNG Group is specialised in domestic equipment sales, modification and maintenance services of LNG, LNG refuelling stations for vessels, ports and vehicle, and is a service provider of the LNG supply chain covering all the upstream, midstream and downstream segments in the industry, according to the statement.

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LNG World News Staff, June 24, 2014