China signs million dollar LNG agreement with PNG

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Updated November 9, 2009 10:49:44

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 what's called a heads of agreement, the Chinese firm Sinopec has confirmed to the partners in the PNG-LNG project that it will buy 2-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
Speaker: Liam Fox, PNG correspondant

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