Australia Pacific LNG (APLNG) and China Petroleum and Chemical Corporation (Sinopec) have signed a sale and purchase agreement for the supply of 4.3 MMt/a of LNG for 20 years, starting in 2015, from Australia Pacific LNG’s facility to be located on Curtis Island, Gladstone in Queensland.
APLNG and Sinopec signed an agreement to purchase a 15 per cent interest in the APLNG Project.
Minister for Resources and Energy Martin Ferguson said the agreement was another positive step forward for the APLNG Project.
“Deals like this one put Australia on track to be one of the world’s largest suppliers of LNG in coming years,” Mr Ferguson said.
Mr Ferguson said Queensland’s proposed coal seam gas to LNG projects have potential to generate over $A50 billion in investment, hundreds of billions of dollars in exports and thousands of Queensland jobs. He also highlighted the venture’s positive environmental contributions, saying “increasing our supply of LNG to China will also help reduce emissions and help ensure rising energy demands are met with clearer fuel sources.”
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The APLNG project will include up to four trains with capacity to produce up to 18 MMt/a of LNG and a 450 km gas transmission pipeline from the Surat and Bowen basins to the proposed LNG processing site. First LNG exports are scheduled for 2014.
APLNG is a 50-50 joint venture between Origin Energy and ConocoPhillips.
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Image caption: ConocoPhillips Chairman and Chief Executive Jim Mulva, Sinopec President Su Shulin and Origin Chairman Kevin McCann in Beijing, China.
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