News and Announcements
Linc Energy and DTEK Oil and Gas Sign a UCG Agreement for the Ukraine
- Published December 07, 2012 1:31AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Linc Energy Ltd (ASX: LNC) (OTCQX: LNCGY) is pleased to announce it has entered into an agreement to collaborate with DTEK Oil and Gas for the purpose of evaluating underground coal gasification (UCG) potential in the Ukraine on DTEK’s local coal resources. DTEK Holdings, the parent company of DTEK Oil and Gas, is the largest privately owned, vertically integrated energy company in Ukraine with interests in coal mining, power generation and electricity distribution companies.
As an entrepreneurial company, DTEK Oil and Gas is seeking to assess the opportunity to utilize UCG to help address Ukraine’s growing reliance on imported, expensive and often unreliable natural gas and to fill their capacity gap at DTEK’s existing gas-fired power plants.
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