http://www.theaustralian.news.com.au/business/story/0,28124,25949...

http://www.theaustralian.news.com.au/business/story/0,28124,25949648-5001641,00.html

Extracts from article by Matthew Stevens in todays’s Australian…..

Just a week after being master of ceremonies at India's introduction to Gorgon's list of customer nations, the federal Resources Minister last night confirmed PetroChina's second appearance on the project contract manifest.

PetroChina has agreed to a second 20-year deal to take 2.25 million tonnes a year of ExxonMobil's share of Gorgon LNG. Mr Ferguson reckons this deal is worth $50bn.
This is PetroChina's second major dip into Gorgon's future production. In 2007 it signed on the dotted line for 2mtpa of Shell's share of the project -- a contract now reckoned to be worth $33bn.
This means PetroChina has contracted to take 4.25mtpa of Gorgon LNG, or just less than half of the volume contracted so far and about 30 per cent of the Gorgon's planned annual output. At current prices, those contracts are worth $83bn over 20 years.

Meanwhile, the increasingly active Santos has finally delivered on the long anticipated plan to sell the Petrel, Tern and Frigate gas fields in the Bonaparte Basin.
And what a sweet little deal Adelaide gas house has emerged with. Boss David Knox had raised more than expected by selling less than expected, while delivering a new, rich and powerful name to the swelling ranks of Australian LNG players.
European energy giant GDF Suez will pay Santos $US200m ($240m) upfront for a 60 per cent share of the three gas fields and then a further $US170m upon any final investment decision.

My take….

As this article shows there are many big deals in process for Australian LNG; the future energy source, the replacement for coal.

Certain that there are many more to come – from Asian countries as well as Australian domestic demand. Queensland gas with Arrow will surely be involved in these.

Even our Mr Rudd has said this deal would ''supercharge the LNG industry'' (As a whole)