Manila (Platts)--19Nov2012/336 am EST/836 GMT
China's Shanxi Coal Transportation and Sales Group and Australia's Carbon Energy and have signed a licensing agreement involving the development of an underground coal gasification project in Shanxi province, Carbon Energy said Monday in a statement. ASX-listed Carbon Energy said it will license its technology to Shanxi Coal for a fee of $7.5 million payable within 30 days of execution and the balance upon achievement of certain project milestones. Carbon Energy said it has not yet received the initial technology payment from Shanxi Coal, but added that it has received assurances from the latter that it is fully committed to proceeding with the project.Article continues below...Request a free trial of: International Coal ReportInternational Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
China's Shanxi Coal Transportation and Sales Group and Australia's Carbon Energy and have signed a licensing agreement involving the development of an underground coal gasification project in Shanxi province, Carbon Energy said Monday in a statement. ASX-listed Carbon Energy said it will license its technology to Shanxi Coal for a fee of $7.5 million payable within 30 days of execution and the balance upon achievement of certain project milestones. Carbon Energy said it has not yet received the initial technology payment from Shanxi Coal, but added that it has received assurances from the latter that it is fully committed to proceeding with the project.
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International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
Headquartered in Brisbane, Carbon Energy said it specializes in UCG. It said it has two wholly owned assets in southeast Queensland's Surat Basin.--Cecilia Quiambao, Cecilia_quiambao@platts.com --Edited by Elston Soares, elston_soares@platts.com
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