{"id":466885,"date":"2010-03-24T05:45:00","date_gmt":"2010-03-24T09:45:00","guid":{"rendered":"tag:blogger.com,1999:blog-9864176.post-76869347804194926"},"modified":"2010-03-24T06:44:46","modified_gmt":"2010-03-24T10:44:46","slug":"australias-biggest-ever-lng-deal-signed","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/466885","title":{"rendered":"Australia&#8217;s biggest-ever LNG deal signed"},"content":{"rendered":"<p>The SMH reports that BG has signed a large <a href=\"http:\/\/peakenergy.blogspot.com\/2008\/10\/coal-seam-gas-producers-new-masters-of.html\">coal seam gas<\/a> export deal with China&#8217;s &#8211; <a href=\"http:\/\/www.smh.com.au\/business\/gas-australias-biggestever-deal-inked-20100324-qvd3.html\">Gas: Australia&#8217;s biggest-ever deal inked<\/a>.<\/p>\n<blockquote><p>In what is Australia\u2019s largest trade deal, a Chinese company has signed off on the purchase of about $60 billion worth of liquified natural gas (LNG) from a Queensland project.<\/p>\n<p>The signing was also the world\u2019s first fully termed sales contract for LNG sourced from coal seam gas (CSG), according to a statement from Resources Minister Martin Ferguson, who witnessed the signing in Beijing today.<\/p>\n<p>The deal was between Britain\u2019s BG Group, which owns the CSG fields, and the state-owned China National Offshore Oil Corp (CNOOC).<\/p>\n<p>\u2018\u2018This deal makes Australia the world leader in the coal seam gas-based LNG industry and it brings us one important step closer to opening up a new LNG province on Australia\u2019s east coast in Queensland,\u2019\u2019 Mr Ferguson said in a statement. \u2018\u2018It also further demonstrates Australia\u2019s attractiveness as an internationally competitive and safe destination for global capital.\u2019\u2019<\/p>\n<p>CNOOC\u2019s 20-year deal with BG Group was proposed in May 2009 and will allow CNOOC to buy 3.6 million tonnes per annum (Mtpa) of LNG from the British firm\u2019s Queensland Curtis CSG-to-LNG project near Gladstone.<\/p>\n<p>The amount is about half of the output expected during the first phase of the project, which is slated to commence production in 2014 and will cost more than $10 billion to develop.<\/p>\n<p>CNOOC was involved in China\u2019s first purchase of Australian LNG from the Woodside Petroleum-operated North West Shelf in Western Australia in 2006.<\/p><\/blockquote>\n<div class=\"blogger-post-footer\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-2189376323632485\";\n\/* 728x90, created 5\/18\/08 *\/\ngoogle_ad_slot = \"3866831776\";\ngoogle_ad_width = 728;\ngoogle_ad_height = 90;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/9864176-76869347804194926?l=peakenergy.blogspot.com' alt='' \/><\/div>\n<p><a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/5cP57bLRF0qjFSEeCT1Q_r882p4\/0\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/5cP57bLRF0qjFSEeCT1Q_r882p4\/0\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><br \/>\n<a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/5cP57bLRF0qjFSEeCT1Q_r882p4\/1\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/5cP57bLRF0qjFSEeCT1Q_r882p4\/1\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SMH reports that BG has signed a large coal seam gas export deal with China&#8217;s &#8211; Gas: Australia&#8217;s biggest-ever deal inked. In what is Australia\u2019s largest trade deal, a Chinese company has signed off on the purchase of about $60 billion worth of liquified natural gas (LNG) from a Queensland project. The signing was [&hellip;]<\/p>\n","protected":false},"author":763,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-466885","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/466885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/763"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=466885"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/466885\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=466885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=466885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=466885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}