Carbon Energy, Adani tie up for Coal Gasification in India

Carbon Energy has entered into a Memorandum of Understanding with India’s Adani Group, establishing a joint venture for development of India’s underground coal gasification interests under a Government of India-sponsored process.

The companies will jointly prepare and submit a bid to establish a coal bed methane project on Indian tenements held by the government-owned Coal India.

Should their bid be successful, Adani will bear all costs throughout the exploration phase, including reasonable costs of Carbon until exploration has been successfully conducted and a suitable CBM resource established.

The companies then plan to form an India-based joint venture in which Adani will have a 75% stake, with Carbon the remaining 25%.

Andrew Dash, Managing Director, noted that partnership with Adani brings significant benefit to Carbon Energy.

'Carbon Energy will now be pursuing projects on three continents with the addition of India to our existing interests in Australia and in Chile. Adani is a major player in the Indian coal and power industries and has already established itself in Queensland, Australia. We are looking forward to working with Adani to build Carbon Energy’s UCG project base in India'.

Source: Carbon Energy