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Asia Pulse: NORTH WEST SHELF VENTURE INKS SALES DEAL WITH KOREA GAS

Published: Jan 19, 2007

SYDNEY, Jan 19 Asia Pulse – The six equal participants in the massive North West Shelf (NWS) natural gas venture have signed a sales agreement with Korea Gas Corporation for the ongoing supply of liquified natural gas (LNG).

In a deal beginning in 2009, the participants in Australia’s largest resources project will supply Korea Gas with up to 0.5 million tonnes a year of LNG for seven years.

Korea Gas is an existing customer of NWS, having signed a contract in 2003 that ends in March 2010.

The NWS participants each hold a 16.67 per cent stake. They are BHP Billiton Petroleum (North West Shelf) Ltd, BP Developments Australia Ltd, Chevron Australia Ltd, Japan Australia LNG (MIMI) Ltd, and Shell Development (Australia) Pty Ltd.

CNOOC NWS Private Ltd is also a member of the NWS venture but is not party to the Korea Gas agreement.

(AAP)

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