China Knowledge reported that Offshore Oil Engineering Co Ltd has inked a USD 180 million contract to build modules for a liquefied natural gas plant in Australia for Chevron Corp a US based oil giant.

Offshore Oil Engineering will produce more than 157 process modules for the LNG project by September 2012.

Chevron holds a 50% stake in the project and Royal Dutch Shell and Exxon Mobil Corp each hold a 25% stake. The project is expected to yield 15 million tons of LNG per year starting in 2014.

Reportedly, China National Petroleum Corp has agreed to import 2.25 million tons of LNG per year from the LNG project during the next 20 years.

(Sourced from China Knowledge)