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LNG proponents waiting on China

The State Government first began talks with the Chinese Government for the possible supply of LNG to China and Hong Kong in 1997.

Its support for the formal Guangdong bid continues next week, with the expected visit by a Chinese delegation comprising end users.

Other lead-up support has included a visit by the Premier to China last year to meet with Chinese development, trade, local government and oil industry leaders. The Government has also hosted visits by Chinese delegations, the most recent of these headed by the Guangdong Planning Commission.

Chinese National Offshore Oil Company, which has multiple interests in four Chinese oil and gas production regions, has signed a Heads of Agreement for equity in the NWS venture should the project secure the supply contract.

BP, which maintains a retail fuel network in Zhejiang province, is part of a consortium constructing the Guangdong receiving terminal.

China is a significant Australian trading partner. Australian exports to China jumped 47 per cent in 2000 and another 30 per cent in 2001.

Earlier this year, China leap-frogged New Zealand to become Australia’s fourth largest export destination. Australian exports to China are estimated to be now worth an annual $7.5 billion.

The NWS venture partners are operator Woodside Energy, BP Developments Australia, BHP Billiton Petroleum (NWS), Chevron Australia, Japan Australia LNG (MIMI) and Shell Development (Australia).

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