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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: CommanderCricket	2/23/2009 8:46:55 AM
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Another day and another lock up of energy supplies for China. PetroChina snaps up Gorgon LNG Photo by Wire services US supermajor ExxonMobil has agreed to sell PetroChina 2 million tonnes of liquefied natural gas per year for 20 to 25 years from the Australian Gorgon project, an industry source said today. The deal, which still requires approval from China's State Energy Administration, would be the second Gorgon LNG contract for China's top oil company, following a 20-year deal with Anglo-Dutch supermajor Shell for 2 million tonnes per annum, Reuters reported. ExxonMobil and Shell both have 25% of Gorgon, which is operated by Chevron, owner of the remaining 50%, off Western Australia. Gorgon's project size was recently increased to 15 million tpa, boosting ExxonMobil's share to 3.75 million tpa from 2.5 million tpa. No one at the companies involved was immediately available to comment.

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