ExxonMobil Australia signs $25 billion gas deal with India's Petronet
ExxonMobil Australia has signed a $25 billion gas supply contract with India's Petronet. Australian Energy Minister Martin Ferguson was quoted saying that the 20-year deal heralded a new trading partnership between Australia and India.
“I hope this new partnership with India will grow to be as significant as our LNG export trade with our friends in East and North East Asia,” said Ferguson.
The deal is for ExxonMobil Australia supply 1.5 million tonnes of LNG a year from the Gorgon gas fields off Western Australia.
According to Ferguson the deal is Australia's first long-term LNG supply contract with India.
It is understood that Gorgon joint venture partners Chevron, ExxonMobil and Royal Dutch Shell have yet to give final approval for the project, but the Indian deal is said to be a key milestone in pushing through the project.
“We welcome Petronet LNG as a foundation customer for the Gorgon LNG Project and look forward to a long and successful relationship,” ExxonMobil Australia vice-president Luke Musgrave was quoted saying.
The new LNG facilities are scheduled to be built on Barrow Island which is a nature reserve some 70 kilometres off Western Australia.
“I hope this new partnership with India will grow to be as significant as our LNG export trade with our friends in East and North East Asia,” said Ferguson.
The deal is for ExxonMobil Australia supply 1.5 million tonnes of LNG a year from the Gorgon gas fields off Western Australia.
According to Ferguson the deal is Australia's first long-term LNG supply contract with India.
It is understood that Gorgon joint venture partners Chevron, ExxonMobil and Royal Dutch Shell have yet to give final approval for the project, but the Indian deal is said to be a key milestone in pushing through the project.
“We welcome Petronet LNG as a foundation customer for the Gorgon LNG Project and look forward to a long and successful relationship,” ExxonMobil Australia vice-president Luke Musgrave was quoted saying.
The new LNG facilities are scheduled to be built on Barrow Island which is a nature reserve some 70 kilometres off Western Australia.