Mr Fitzgibbon asked the Treasurer, upon notice, on 26 August 2002:

(1) What are the revenue implications for the Commonwealth of the decision of the North West Shelf Venture partners to allow the China National Offshore Oil Company equity in the project.

(2) What are the revenue implications for the Commonwealth of the decision to give China exclusive rights to ship liquefied natural gas from Australia to China.

Mr Costello (Treasurer) —The answer to the honourable member's question is as follows:

The decisions of the North West Shelf Venture partners to allow the China National Offshore Oil Company (CNOOC) to take equity in the project and participate in shipping LNG arise from a commercial agreement. The Government is not party to the agreement and therefore cannot quantify the revenue implications.