AP reported that Chinese energy giant PetroChina Co has signed a deal to buy USD 41 billion worth of Australian liquefied natural gas over the next 20 years.
Mr Martin Ferguson Australian minister for resources & energy said that the gas will come from Exxon Mobil Corporation's 25% share of the Gorgon gas field development off Australia's west coast.
The deal comes despite growing tensions between the two countries. Beijing has expressed displeasure over Australia's recent decision to grant a visa to an exiled Uighur activist, and Canberra has voiced concerns over China's arrest of an Australian mining executive on charges of infringing trade secrets and bribery.
But Mr Ferguson said that the major gas deal proves the two countries have a solid relationship. He added that "This agreement is testimony to the strength of Australia's continuing trade and investment relationship with China. As China continues to develop as a modern global industrial and commercial powerhouse, Australia is committed to walking with it on its remarkable journey."
(Sourced from Associated Press)
