Kinetiko Energy (ASX:KKO) has entered into a non-binding Memorandum of Understanding (MOU) with FFS Refiners Proprietary, to finalise a gas supply agreement.
Kinetiko Energy is an Australian gas explorer and developer focused on advanced shallow conventional gas and coal bed methane in South Africa.
It says FFS is a leading supplier of industrial heating fuels in South Africa, and is seeking to supplement its industrial fuels business with the supply of liquified natural gas (“LNG”).
Kinestiko Energy also says the MOU provides for the potential of FFS Refiners to purchase natural gas produced pursuant to a binding gas supply agreement.