Exxon, BHP To Inject $1B Into Australian Gas Plant

Law360, New York (December 14, 2012, 2:14 PM EST) -- A unit of Exxon Mobil Corp. and BHP Billiton Ltd. have agreed to funnel more than $1 billion in funds to a new gas conditioning plant in Australia, building on their existing energy joint ventures in the area, the companies said in separate Thursday statements.

BHP will put up $520 million for the Longford Gas Conditioning Plant, while Exxon's Esso Ventures Pty. Ltd. will pump in about AU$500 million (US$526 million), according to the statements. The plant is part of a larger 50-50 joint venture the...
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