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Liquefied natural gas worth 50 billion Australian dollars will be supplied by Australia to China. This is the largest resources deal that has ever been struck by Australia till now.
"The 50 billion Gorgon LNG project will be the biggest single investment ever made in Australia, breaking the record set only a few years ago by the 12 billion Pluto LNG project now under construction in Western Australia," Minister for Resources and Energy Martin Ferguson said.
"We are a country built on foreign investment and we continue to welcome investments that develop our resources for the benefit of all Australians," the statement said.
Gorgon partner ExxonMobil and Chinese energy giant PetroChina inked the deal in Beijing.
According to Ferguson, the Gorgon project has enabled the bagging of LNG supply contracts worth 300 billion Australian dollars over 20 years.
