Abstract: The research progress and achievements of the ENNOs no mine shaft type underground coal gasification would set up the base to develop the undergro und coal gasification for the liquefied natural gas.Based on the circumstances, from the technical and economic views, the paper analyzed the feasility of O2/CO2 as t he gasification agent to conduct the underground coal gasification production as the raw gas for the synthetic liquefied natural gas.With the accounting, an underground coal gasification to liquefied natural gas project with an annual production of 200 million cubic meters of liquefied natural gas would require a total investment about RM B 1.16 bilions, the investment recovery period would be about 7 years and the internal return rate would be about 19.3%.The sensitivity analysis on the internal return r ate of the liquefied natural gas and sales prices showed that the project would still have a profit space when the production and sales price reduced by 10%.