ExxonMobil and Petronet strike deal on LNG

Australia's growing LNG export market boosted after ExxonMobil and Petronet LNG agree to long-term gas supply deal

Australia’s growing LNG export market has strengthened further, with Exxon Mobil and Petronet LNG agreeing to a long-term deal to supply India with gas from Western Australia

The deal had been subject to environmental approval, but this came from Environment Minister Donna Faragher yesterday.

Up to 1.5 million tonnes per annum of LNG will be exported from the proposed Gorgon LNG project on Barrow Island south of Broome.

Exxon Mobil Australia LNG Vice President Luke Musgrave says the agreement is the first of its kind between Australia and the booming Indian market.

"We welcome Petronet LNG as a foundation customer for the Gorgon LNG Project and look forward to a long and successful relationship," Musgrave says.

Premier Colin Barnett has also welcomed the move, labelling the deal a "valuable" one for the state.

"On the back of the State Government’s approval, the signing of this LNG purchase agreement for gas from Gorgon will help secure the project from a commercial angle," Barnett says.

"India is WA’s fourth largest export market and will continue to play an important role in our state’s future investment that will generate thousands of jobs for Western Australians."

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