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China LNG agreements signed.

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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

This page last modified: Monday, 21-Oct-2002 10:56:59 EST

Local Date: Monday, 21-Oct-2002 16:06:18 EST