China-Australia LNG agreement expires due to Australian non-performance

16:54, January 06, 2010      

Email | Print | Subscribe | Comments | Forum 

Reporters learned from China National Petroleum Corporation (CNPC) January 5 that the agreement on the Browse liquefied natural gas (LNG) project signed between CNPC and Australia-based Woodside Petroleum has expired, mainly because the Australian side failed to supply LNG to the Chinese side as scheduled.

CNPC and Woodside Petroleum signed a framework agreement on the Browse LNG project September 2007, in which Woodside Petroleum would annually supply CNPC 2 to 3 million tons of LNG over the next 15 to 20 years, with a contract value totaling over 40 billion U.S. dollars. The validity period of the agreement lasted until the end of 2009.

CNPC said that as the development of the Browse LNG project involving the framework agreement was postponed, Woodside Petroleum could not supply LNG in the time agreed. Therefore, the validity period of the framework agreement was not extended.

By People's Daily Online
  • Do you have anything to say?


Special Coverage
Major headlines
Editor's Pick
  • Death toll in mudslides reaches 52 in Brazilian town
  • Swan habitat on Yellow River uncontaminated by diesel leakage
  • Snow hits south China's provinces, disrupting traffic
  • Special stamp, seal launched in Tianjin to mark year of tiger
  • Nadal advances in Qatar Open after beating Bolelli
  • Death toll in central China colliery fire rises to 25
Most Popular
Hot Forum Dicussion