Sinopec takes stake in Australian coal seam gas producer

    May 04, 2011 | BY

    clpstaff &clp articles

    Sinopec International Petroleum Exploration & Production Corporation (SIPC) has acquired a 15% ownership interest in Australia Pacific LNG (APLNG).…

    Sinopec International Petroleum Exploration & Production Corporation (SIPC) has acquired a 15% ownership interest in Australia Pacific LNG (APLNG). The transaction is valued at US$1.5 billion.

    SIPC subscribed through its subsidiary to gain equity in APLNG, the leading coal seam gas (CSG) producer in Australia and holder of the country's largest CSG reserves position. ConocoPhillips and Origin Energy each retain a 42.5% ownership interest in APLNG.

    SIPC was represented by a Herbert Smith team led by Hong Kong-based Anna Howell, and its Australian counsel was Blake Dawson. Clayton Utz advised APLNG.

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