Exxon to sell Gorgon LNG to China

PetroChina Co will reportedly buy a further 2 million tonnes of liquefied natural gas each year from the Gorgon project after it signed a deal with co-owner ExxonMobil.

Citing an industry source, Reuters reported that the US petroleum giant will sell the LNG over a 20 to 25 year period.

The agreement follows a 20 year deal between PetroChina and Royal Dutch Shell that was agreed to in November last year.

Exxon and Shell both have a 25 per cent stake each in Gorgon, which is half-owned and operated by Chevron.