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Sanjiaobei gas sales agreement inked

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Hydrocarbon Engineering,

Sino Gas & Energy Holdings Ltd has announced the signing of a new gas sales agreement (GSA) for the Sanjiaobei Production Sharing Contract (PSC).

Sino Gas' Joint Venture company, Sino Gas & Energy Ltd (SGE), in conjunction with its Sanjiaobei PSC Partner, PetroChina, have signed a new GSA for gas sales from the Sanjiaobei PSC to Shanxi GuoHua Energy Ltd Co., in addition to the recently signed GSA for the Linxing PSC. GuoHua is a subsidiary of Sinopec.

The new GSA is effective until the end of the current PetroChina marketing period at the end of 2017.

The GSA is in addition to and does not negate the existing GSA on Sanjiaobei, expanding the offtake options and increasing optionality for maximising production and revenue.

The focus of the marketing team is now on finalising gas marketing arrangements for the new Central Gathering Station to be installed in Linxing to support commissioning of production late 2017/early 2018 as planned.

Commenting on the new GSA, Sino Gas' Managing Director Glenn Corrie said: "We are pleased with the continued progress we are making on delivering our gas marketing strategy, including an increased portfolio of gas offtake options at Sanjiaobei to deliver reliable and stable production. The new Sanjiaobei GSA is on similar favourable terms to the Linxing contract recently signed with GuoHua, one of the dominant gas buyers in our target market."

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