Sydney: Australia's Icon Energy has signed a memorandum of understanding worth as much as A$32 billion to supply liquefied natural gas to China.
The deal, between Icon and Shenzhen Sino Industrial Development Company, a subsidiary of SinoGas, will see Icon supply 40 million tonnes of LNG over 20 years from 2014.
A binding deal needs to be signed by August 31.
''The deal positions Icon Energy as the exclusive supplier of approximately 2.2 trillion cubic feet over the 20-year-life of the agreement,'' Icon said in a statement.
Shenzhen is home to China's first LNG terminal. [09/04/10]
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