China and Australia sign energy deal
This is a discussion on China and Australia sign energy deal within the China News forum, part of the Doing Business in China category; China and Australia have agreed a $41bn energy deal at a time when tensions between the two trading partners were ...
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Aug 18th, 2009, 02:45 PM
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Re: China and Australia sign energy deal
China’s largest energy company agreed on Tuesday to buy $41bn worth of Australian natural gas at a signing ceremony intended to put a positive gloss on strained relations between the two trading partners.
Martin Ferguson, Australia’s energy and resources minister, was in Beijing to witness the signing of Petrochina’s agreement to buy 2.25m metric tonnes a year of liquid natural gas from the Gorgon project off the coast of Western Australia. At current gas prices, the deal, which is with ExxonMobil, the world’s largest western oil company, would be worth $41bn over the next 20 years and is Australia’s largest-ever trade deal, Mr Ferguson said. |
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