Australia Hails Gas Export Contract to China

Home>>Business

Last updated at: (Beijing Time) Friday, August 09, 2002

Australia Hails Gas Export Contract to China

Australian Foreign Minister Alexander Downer hailed the gas export contract to China Friday, saying "This will be an enormous boon to the Australian economy."

DISCUSSION

CHINESE

SEND TO FRIEND

Australian Foreign Minister Alexander Downer hailed the gas export contract to China Friday, saying "This will be an enormous boon to the Australian economy."

"It is a wonderful thing for Australia and it is a very big dayfor our country that we have been able to win this contract," he told reporters in a doorstop interview.

The foreign minister attributed it to the strong relationship between the two countries, stressing "There is no doubt that winning this contract illustrates not just the determination of the Australian commercial sector to get contracts of this kind butthe strength of the relationship between Australia and China and the strength of the relationship between Australia and Asian countries."

"This is our biggest ever export contract since Federation, in dollar terms. It is a great coup because it's great for our economy and therefore great for our living standards."

"But it is also extremely important in terms of building our relationship with China which is the emerging power of the East Asian region," he added.

According to the contract announced Thursday, the Woodside-led Australian Liquefied Natural Gas (LNG) consortium will supply three million tons of North-West Shelf gas a year from 2005 to China over 25 years.

The country exports LNG of 2.5 billion Australian dollars (about 1.33 billion US dollars) a year and the contract will take the figure up to around 3.5 billion Australian dollars (about 1.86billion US dollars).

Questions?Comments? Click here

Australia Wins Bidding to Supply LNG to China

Experts Reject 'China Threat' Theory ( 94 Messages)

HK Financial Secretary Confirmed Marriage with Chinese Diving Queen ( 30 Messages)

Christian Designs Found in Tomb Stones of Eastern Han Dynasty ( 77 Messages)

China's High-tech Development Geared to Marketable Industries ( 16 Messages)

Missing Chinese Girl Found Safe in US East Coast ( 44 Messages)

WTO Chief Says China is a Responsible Member ( 20 Messages)