China Moves In On Japan's LNG Play With $1.6B Aussie Buy

Law360, New York (December 11, 2012, 6:53 PM EST) -- PetroChina Co. Ltd. will pay $1.63 billion to buy out BHP Billiton Ltd.'s minority interests in a massive Australian liquefied natural gas project, BHP said Tuesday, elbowing its way into a consortium that already includes two of Japan's biggest energy players.

BHP will sell its 8.33 percent interest in the East Browse partnership and its 20 percent interest in the West Browse partnership. The two joint ventures hold different permits for gas fields that will supply Browse LNG, Woodside Energy Ltd.'s $40 billion integrated energy project...
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