Australia in $82 bln gas deal with Japan
December 06, 2009
Western Australia is aiming to position itself as a major source of LNG to Asia's burgeoning economies
Australia has welcomed a 90 billion dollar (82 billion US) deal to supply liquefied natural gas (LNG) to a Japanese power company in what is believed to be the country's biggest export sales contract.
Western Australia state Premier Colin Barnett said the long-term gas sales agreement between Chevron and the Tokyo Electric Power Company would see 4.1 million tonnes of LNG sent to Japan each year.
"The sales contract amounts to some 90 billion dollars," Barnett told reporters Saturday.
"In my judgement that would be the largest sales contract for any Australian export industry -- this is an historic agreement."
Barnett said the deal would underpin the future of a major offshore gas field and onshore processing development, known as the Wheatstone project, to be developed off the state's northwest coast.
The premier said the latest deal indicated the massive change underway in the resource-rich state's economy, which is aiming to position itself as a major source of LNG to Asia's burgeoning economies.
"Currently, the state's only LNG producer, the North West Shelf Joint Venture, has an annual capacity of 16.3 million tonnes," he said in a statement.
Projects already under way, including at the massive Gorgon field, will see the state's capacity more than double, he said, adding that over the coming decade LNG production could double again.
In September, Chevron, Shell and ExxonMobil agreed to develop the Gorgon field, the world's largest LNG plant, which along with other LNG projects planned for the Western Australia and Queensland over the next decade could see Australia challenge Qatar as the world's major gas exporter.
The gas is liquefied for shipping abroad, where it is turned back into gas and distributed via a pipeline.
AFP
- Another Indonesian Pilot Busted in Airline Drug Test
- ‘The Phantom of the Opera’ Unveils Itself to Jakarta Audience
- 12 Detainees Pull Off Brazen Jakarta Jail Break
- Malaysian Girl Speaks Indonesian After Freak Accident: Report
- Indonesians Buying Up Most Expensive Homes in Singapore
- Bali’s Rising Violent Crime Rate Could Threaten Tourism Industry
- Indonesia Property Demand to Rise With Economy
- Indonesian Police Arrest Czech Tourist in Papua
- Sumitomo Bets on Indonesia’s Growing Need for Electricity
- Jakarta 'Healer' Touches Clients’ Penises to ‘Remove Evil Spirits’
-
4:49pm | New Indonesian TV Mini-Series ...
nice idea...will ariel and luna be part of this? maybe the sandal-thief can make a cameo appearance -
4:45pm | Axis of Hostility: Iran, Israe...
Riady need to keep up to date his views with current affairs. This article is overly mideast centric. No large scale protracted war will ever happe -
4:33pm | Indonesians Buying Up Most Exp...
I'm based in Singapore and it makes me sick whenever locals would try to lecture me on how free of corruption Singapore is and how bad corruption -
4:27pm | Malaysian Girl Speaks Indonesi...
@ Chiflado21 A fairly Cunning Linguist it seems!! -
4:23pm | Indonesians Buying Up Most Exp...
Who actually contributes to Singapore economy ? Well.. 90% are from these corrupt Indonesians. Starting with the university donation, buying expens -
4:02pm | Axis of Hostility: Iran, Israe...
Good article indeed. Let the Palestinian build their country in peace and the Iranian have their own way of living. The Iranian has indeed proven t -
3:44pm | Indonesians Buying Up Most Exp...
I heard from someone corruption accounts for 30 % of Indonesia's economy. Actually people like Nazaruddin, Gayus are the priority buyers for housi -
3:39pm | The Thinker: Let's Talk About ...
The government and health institutions need to get their heads out of the sand and begin providing birth control to unmarried women who want it. He
