Minister for Trade and the Minister for Foreign Affairs
18 October 2002
China LNG Agreements Signed
We welcome the signing today of the contract formalising the liquefied
natural gas (LNG) deal between Australia and China. The conclusion
of the deal is a giant step forward in the development of a new Australia-China
energy partnership.
The scale of the venture - Australia's largest ever single-value
export contract valued at up to $1 billion per year for 25 years -
is testament to the growing cooperation between our two nations.
This contract will see the North West Shelf Venture supply the Guangdong
LNG Terminal and Trunkline Project Joint Venture with 3.3 million
tonnes of LNG per annum. This contract confirms Australia as a reliable,
stable and secure supplier of high quality LNG to the region and the
world.
This tremendous result is the culmination of many years of close
cooperation between the Federal Government, the Western Australian
State Government and the North West Shelf Venture partners, represented
by Australia LNG. This cooperation has concentrated the diplomatic,
technical and marketing expertise from across business and government,
and delivered the contract for Australia.
This year is the thirtieth anniversary of Australia-China diplomatic
relations. There could be no more appropriate milestone for the bilateral
relationship than this result. Australia stands ready to assist China's
rapid economic development through increasing supplies of minerals
and energy products into the future.
Media inquiries: Chris Kenny (Mr Downer's office) +61 02 6277 7500
/ Robyn Bain (Mr Vaile's office) +61 02 6261 1555
Local Date:
Friday, 05-Dec-2008 14:02:39 EST
