Abramovich Mulls Investment in Australian Gas Space

Russian billionaire Roman Abramovich, is considering investing in Australia’s Linc Energy which is renowned for its underground coal gasification technology, Australia Finance Review said.

The confidential talks with Linc Energy, which has a market capitalisation of about $310 million, has fuelled speculation he is considering investing in the Australian resources sector or wants to use Linc’s technology in Russia, the AFR report said. 

The Australian firm recently hinted that spin-offs were on the cards for three of Linc Energy’s key business units: coal and US oil and gas, as well as shale. But this is only likely after its UGC business – which is combined with gas to liquids technology to produce liquid fuels – is commercially viable.