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China, Australia Sign Major Natural Gas Supply Agreements
Liquefied natural gas (LNG) sale and purchase agreements between China and Australia were signed Friday in Canberra.

The agreements worth US$13.75 billion is the biggest in Australia's history of business.

According to the agreements, the North West Shelf Venture of Australia will sell 3.3 million tons of LND a year for 25 years starting from 2005 to China's Guangdong Province.

Australian Industry Minister Ian Macfarlane attended the signing ceremony on behalf of Prime Minister John Howard who is in Bali. Macfarlane hailed the event as a clear proof of the mature relationships between Australia and China.

The minister announced a 25 million Australian dollars (US$14 million) Australia Gas Technology Partnership Fund to boost the China's energy relationship with Australia. "It demonstrates our desire for a long-term partnership between China and Australia on energy," he said.

Zhang Guobao, deputy chairman of the Chinese government's planning committee said the future of cooperation between China and Australia in the energy resources field is bright. The Chinese government has decided to largely expand the energy sector while Australia possesses rich resource of gas, he added.

(Xinhua News Agency October 18, 2002)

China, Indonesia Sign US$8.5b LNG Contract
HK to Buy One Third of Imported LNG
Australia Wins Bidding to Supply LNG to China
First Imported LNG Project to Be Launched in Guangdong
China Awards LNG Project to British Petroleum Company
China National Offshore Oil Corporation (CNOOC)
PetroChina
Sinopec
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