|
Natural Gas News - ExxonMobil and PetroChina Announce Gorgon LNG Supply Agreement
MELBOURNE, Australia - August 18, 2009 - Affiliates of Exxon Mobil Corporation (ExxonMobil) and PetroChina Company Limited (PetroChina) announced today they had signed a sales and purchase agreement (SPA) for the long-term supply of liquefied natural gas (LNG) from the proposed Gorgon LNG Project in Western Australia.
The 20-year SPA is for the supply of approximately 2.25mtpa (million tonnes per annum) of the ExxonMobil affiliate's share of LNG from the Gorgon LNG Project.
Documents celebrating the SPA were signed at PetroChina's headquarters in Beijing in the presence of Exxon Mobil Corporation Senior Vice President Mr. Andrew Swiger and Chairman of PetroChina, Mr. Jiang Jiemin.
"ExxonMobil is very pleased to have been given the opportunity to develop this contract with PetroChina and hope that its successful conclusion will enhance the long term strategic relationship between our two companies," Mr. Swiger said.
"I am delighted we have signed this long term LNG supply contract with PetroChina's affiliate," said Mr. Luke Musgrave, Vice President-Australia LNG. "Natural gas from our share of the Gorgon LNG Project will provide a reliable source of clean energy to help meet China's growing demand."
The SPA commits the remainder of ExxonMobil affiliate's equity share in the Gorgon LNG Project. The Project, in which the ExxonMobil affiliate holds a 25 per cent share, will include three 5mtpa LNG processing trains. A final investment decision is anticipated later this year.
Contacts:
ExxonMobil Upstream Media Line
713-656-4376
Published at Investorideas.com and its natural gas and China stocks portals.
Investors following Natural Gas Stocks or China Stocks can research stocks with the Natural Gas Stocks Directory and the China Stocks Directory
News at the Investor Ideas Newswire: http://www.investorideas.com/RSS/feeds/IIMAIN.xml
Sign up for free newsletter, stock and sector news alerts at Investorideas.com
click here: http://www.investorideas.com/Resources/Newsletter.asp
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
|
