Public CompanyAustralia bags three new deals worth $70 bn to export gas to Asia
Australian Prime Minister Kevin Rudd has said that Canberra has bagged three new deals worth $70 billion to export gas to Asia.
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The deals will see almost three million tonnes of Liquefied Natural Gas (LNG) exported from the Gorgon gas site to Japan and South Korea during the next 25 years, Rudd was quoted by "The Age" as saying in the parliament session.
"Chevron Australia has signed three binding agreements to export almost 3 million tonnes of liquefied natural gas per year to Japan and Korea," Rudd said.
The first agreement was with Osaka Gas, worth 1.375 million tonnes of LNG per year. The second deal, with Tokyo Gas, will involve the exportation of 1.1 million tonnes, while the final deal will see 0.5 million tonnes exported to South Korea"s GS Caltex. The combined value of the deals was $70 billion, Rudd said.
"It"s been a great month for the Australian LNG export industry, with our first long-term contract to supply India worth $25 billion, our biggest-ever single trade deal at $50 billion," Rudd said, adding "These are massive projects that will generate economic growth, income, jobs and prosperity for the nation for decades to come."
Chevron and the WA Liberal Government deserved credit for the record deals, which "do not come to pass easily," the Prime Minister said. They were also proof that the government must not lose momentum when it comes to investing in resources infrastructure, he said.