Tenneco deal formalized

Tenneco deal formalized

SYDNEY (Reuter): Energy Equity Corporation Ltd. (EEC) said
yesterday it has signed agreements with Tenneco Gas Australia to
formalize the strategic alliance between the two companies.

Tenneco has agreed to purchase for A$28 million 50 percent of
EEC's interests in the Sengkang power plant and production
sharing contract in South Sulawesi, Indonesia.

The agreement is conditional on the signing of the power
purchase agreement and gas sales and supply agreements by the
Indonesian government for the 135MW natural gas fired power
station at Sengkang. Documentation was agreed on and waiting the
signature of the Minister for Mines and Energy, EEC said.