all gases $30 billion export bonanza, page-2

$30 billion export bonanza
By Mark Riley, Political Correspondent and Steve Pennells
October 24, 2003

Print this article
Email to a friend



Australia has secured the biggest single export contract in its history - a $30 billion liquid natural gas deal with China, to be announced today.

The 25-year supply contract comes at the end of a historic two days in which Australia has hosted visits by the United States President, George Bush, and China's President, Hu Jintao.

It is $5 billion bigger than a similar deal struck last year to supply liquid natural gas to China from the North West Shelf.

The announcement in Canberra will coincide with Mr Hu's visit to the capital today.

Under the new contract, revealed in The West Australian newspaper today, the Chinese National Offshore Corporation will buy a substantial stake in the Gorgon development on Barrow Island, off Australia's north-west coast, and buy between 80 million and 100 million tonnes of gas. The agreement is conditional on the gas project going ahead

Mr Howard used Mr Bush's visit