ExxonMobil and PetroChina Announce Gorgon LNG Supply Agreement

abarrelfullabarrelfull wrote on 08 May 2012 13:00

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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.

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