Sino Prosper, Sino Cheer sign MoU to undertake LNG business in Indonesia, China

Hong Kong Bourse-listed firm Sino Prosper Holdings Limited announced on Monday that its wholly owned subsidiary SPGL on November 19, had signed an MoU with Sino Cheer (LNG) Industrial Limited for the proposed cooperation for the liquefied natural gas (LNG) business in Indonesia and the mainland China (PRC).

Sino Cheer, according to Sino Prosper, is principally engaged in the exploration and development of LNG in Indonesia and sells the LNG together with the relevant equipment to the PRC and it has entered into an agreement with Pertamina for the development of LNG in Indonesia and the PRC.

?The Directors expect that SPGL and Sino Cheer will cooperate in the development and transportation of LNG from Indonesia to the PRC,? said the statement lodged to The Hong Kong Stock Exchange.

According to Petromindo.Com record, Sino Cheer signed MoU with Indonesian upstream oil, gas authority BPMIGAS on July 9 this year to sell LNG to Guangdong.(alex)