Exxon, PetroChina In $41B Pact For Aussie LNG

Law360, New York (August 20, 2009, 3:52 PM EDT) -- PetroChina Co. Ltd. and Exxon Mobil Corp. have signed a $41 billion, 20-year pact under which PetroChina will get 2.25 million metric tons of liquefied natural gas per year from ExxonMobil's stake in gas fields off Australia's coast, an agreement Australia's Minister for Resources and Energy said was his country's biggest trade deal ever.

Affiliates of ExxonMobil and PetroChina finalized a sales and purchase agreement for the long-term supply of LNG from the Gorgon project on Tuesday, ExxonMobil said. ExxonMobil has a 25 percent share in...
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