Sinopec takes stake in Australian coal seam gas producer

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    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.

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