China signs historic LNG deal with Papua New Guinea

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Updated November 4, 2009 20:52:34

China has signed an agreement to buy 40 million tons of liquefied natural gas from Papua New Guinea. The deal was finalised during a three-day visit to PNG by Chinese Vice Premier Li Keqiang. Under the deal, the Chinese firm Sinopec has confirmed with the partners in the PNG-LNG project that it will buy two million tons of gas a year for 20 years. The deal means PNG has a full-house of buyers for the ExxonMobil-led project.

Presenter: Corinne Podger
Speakers: Liam Fox, ABC Correspondent, Papua New Guinea; Ron Billings, Vice President ExxonMobil Gas and Power Marketing

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