Icon Energy and Shantou Sino Energy extend LNG deal

A map of the ATP 855 permit in the Cooper Basin.

A map of the ATP 855 permit in the Cooper Basin.

Icon Energy and Shantou Sino Energy have extended the date for conditions to supply gas sourced from Icon’s Cooper Basin tenements to China.

The new date for completion of the conditions in the agreement to supply 40 MMt of LNG is now on or before 30 June 2018.

The LNG sales agreement, signed by both parties in March 2011, followed a memorandum of understanding from April 2010.

Part of the agreement requires Icon obtaining all required authorisations for the development and operation of any feedstock fields and LNG facilities.

Gas resource estimates for the company’s holdings in ATP 855 in the Cooper Basin remain unchanged at 343 Bcf 1C, 1,572 Bcf 2C and 5,841 Bcf 3C resources.

Icon currently holds a 35.1 per cent working interest in ATP 855, along with Beach Energy’s 64.9 per cent interest.

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