Queensland has signed a historic 20-year Liquefied Natural Gas export deal with Japan
April 1, 2010
Queensland has signed a historic 20-year Liquefied Natural Gas export deal with Japan, which could be worth more than $20 billion and will support up to 8,500 local jobs.
Premier Anna Bligh said the deal between BG Group and Tokyo Gas Co means Japan will join Queensland’s LNG juggernaut after a massive $60 billion deal was agreed with China last week.
The deal with Tokyo Gas is to buy 24 million tonnes of LNG over 20 years from 2015 and follows BG Group’s 72 million tonne deal with China National Offshore Oil Corporation.
“Japan is the biggest market for Liquefied Natural Gas in the world and this historic deal means that Queensland LNG hasn’t just got a foot in the door of that market, we have walked right through it,” Bligh says.
“This is yet another historic day for Queensland because it means we will not only supply the massive emerging LNG market in China we also have a 20 year commitment to supply the world’s largest LNG market in Japan,” she says.
The gas will be supplied to Japan from the Queensland Curtis LNG project which is currently under development in Gladstone by the BG Group’s subsidiary, QGC Pty Limited, where up to $10 billion is expected to be spent in construction over the next four years.
