PetroChina and ExxonMobil Ink Gorgon Purchase Agreement     

PetroChina Company Ltd. has signed a purchase agreement with ExxonMobil, valued at AUD50 billion (US$41.1 billion), for purchasing gas from the Gorgon liquefied natural gas (LNG) project in Australia over a 20-year period. PetroChina's parent CNPC announced on August 19th.
   Under the agreement, PetroChina will buy 2.25 million tons of LNG per year from Gorgon, indicating PetroChina will become the unprecedented LNG purchaser for Gorgon.
   In November 2008, PetroChina signed a purchase accord with Shell, a 25% stake holder in Gorgon, concerning buying 2 million tons of LNG for 20 years. In addition, PetroChina entered into an agreement with Woodside to receive up to 3 million tons of LNG a year over 20 years from its proposed project in Browse in Australia.
    In April 2008, PetroChina inked with Shell for importing 3 million tons of LNG per year from Qatar over 25 years.
    Chevron held a 50% interest in the Gorgon joint venture, and the remaining for Shell and ExxonMobil.