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Sino Gas & Energy Holdings Announces Sanjiaobei Gas Sales Proceeds Received

29 May 2017  |  08:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Sanjiaobei Gas Sales Proceeds Received

Sino Gas & Energy Holdings announced the receipt of all outstanding historical Sanjiaobei gas sales proceeds. The JV Company has received US$2m equivalent from its PSC partner, PetroChina CBM for outstanding pilot gas sales from the Sanjiaobei PSC between December 2014 and December 2016. With this first payment receipt, payments for ongoing sales from the Sanjiaobei PSC are expected to be received quarterly in accordance with the pilot gas sales allocation agreement. Proceeds for gas sales since the restart of the Sanjiaobei Central Gathering Station (CGS) in December 2016 to the end of the first quarter will be processed.

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