The 20 year SPA is for the supply of approximately 2.25 million tonnes per year of ExxonMobil’s share of LNG from the Gorgon project.
The agreement was signed at PetroChina’s headquarters in Beijing in the presence of ExxonMobil Corporation senior vice president Andrew Swiger and chairman of PetroChina Jiang Jiemin.
Mr Swiger said “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.”?
Exxon Mobil Australia LNG vice president Luke Musgrave said “I am delighted we have signed this long term LNG supply contract with PetroChina. Natural gas from our share of the Gorgon LNG Development will provide a reliable source of clean energy to help meet China’s growing demand.”?
The SPA commits the remainder of ExxonMobil’s equity share in Gorgon, in which ExxonMobil holds a 25 per cent share.
Earlier in the month ExxonMobil has signed a deal with Indian Energy giant Petronet LNG to supply 1.5 million tonnes per year of LNG from the Gorgon project for over twenty years.
The Gorgon LNG Development is a joint venture between Chevron as operator, ExxonMobil and Shell. The Greater Gorgon gas fields are expected to contain approximately 40 trillion cubic feet of gas, with construction estimated to cost $A50 billion. A final investment decision for the project is expected later this year.