BG Group's $8 billion liquefied natural gas (LNG) project on Queensland's Curtis Island has been boosted by a pact between the British firm and one of China's energy majors.
State-owned China National Offshore Oil Corporation (CNOOC) has agreed, under an LNG project development deal with BG Group, to purchase 3.6 million tonnes per annum (Mtpa) of LNG for 20 years from the start-up of the project.
The coal seam gas-to-LNG project is being developed by Queensland Gas Company Ltd, which was acquired by BG Group for $4.8 billion in December.
A final investment decision for the project is expected next year and first shipments are slated for 2014.
