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Sino Gas & Energy Holdings Announces New Gas Sales Agreement Signed

17 Jul 2017  |  08:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: New Gas Sales Agreement Signed

Sino Gas & Energy Holdings announced the signing of a fixed price gas sales agreement (GSA). The revised GSA covers the period March 2017 to March 2018 with a fixed price of US$6.40/mcf equivalent. GuoHua have agreed a minimum daily contract quantity of 14 Million standard cubic feet per day (MMscf/d) and although there are no penalties on either party for shortfall, SGE expects offtake to remain high due to the depth of the market demand and reliability of the Linxing CGS. The Linxing CGS has experienced very high uptime in the first half of the year (>99%). The one-year fixed price contract price is a premium to the average of the previous summer 2016 and winter 2016/2017 agreed gas prices and provides greater revenue certainty during the summer market demand period.

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