Progress in Linc Energy S-Africa coal-gas deal
Firm gets second tranche payment of A$20m, as project moves further ahead
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RECENTLY listed Linc Energy is making headway in its first commercial underground coal gasification project (UCG) in sub-Saharan Africa.
The Australian upstream oil and gas firm has received A$20 million (S$22.45 million) from coal producer Exxaro Resources under an agreement both signed last year to develop a commercial UCG project jointly.
This second tranche payment by Exxaro also signals that certain precedent conditions had been fulfilled, though behind the original target date of end-August last year.
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