NWSV helps develop China’s gas industry
Posted: 24 October 2003
North West Shelf Australia LNG, on behalf of the North West Shelf
Venture LNG Sellers, today signed a Memorandum of Understanding
for the Management and Implementation of the Australia-China Natural
Gas Technology Partnership Fund.
The Fund is a joint initiative of North West Shelf Australia LNG
(on behalf of the North West Shelf Venture), and the Western Australian
and Australian Governments.
It is aimed at providing opportunities for training, research and
technology transfer between the people of China and Australia in
the natural gas and Liquefied Natural Gas (LNG) industry.
The Fund will provide A$25 million over the next 10 to 11 years
to support a range of activities, including grants, industry partnerships,
and training and education opportunities.
The North West Shelf Venture is contributing A$10 million to the
Fund.
A special ceremony held today at Parliament House, Canberra, to
commemorate the signing of the memorandum, was witnessed by People’s
Republic of China President Hu Jintao and Australian Prime Minister
John Howard.
North West Shelf Australia LNG President John Banner said that
the establishment of the
Fund represented an important phase in the development of China’s
LNG industry.
“We are very proud to be playing our part in creating a greater
depth of partnership between Australia and China following our historic
LNG supply contract with the Guangdong LNG project,” Mr Banner
said.
“The Fund is a tangible demonstration by all participants
for the development of long-term energy partnerships across the
energy sector. We look forward with great anticipation to cooperating
with China to build a healthy and vibrant natural gas and LNG industry.”
Mr Banner also acknowledged the extensive and continuing involvement
of the Western
Australian and Australian Governments.
“The Australian Minister for Industry, Tourism and Resources,
Mr Ian Macfarlane, and the Western Australian Minister for State
Development, Mr Clive Brown, are to be congratulated for their Government’s
commitment to the Fund,” said Mr Banner.
On 8 August 2002, China announced the selection of Australia LNG
as the sole supplier of LNG to Guangdong, China’s first LNG
project. This announcement was cemented on 18 October 2002, with
the signing of a 25-year LNG sale and purchase agreement between
the North West Shelf LNG Sellers and the Guangdong LNG project proponents.
The Chinese Government recently approved the Feasibility Study
Report for the Guangdong LNG Project, which provides for the supply
of 3.7 million tonnes a year of LNG and is currently anticipated
to start in mid-2006.
The Fund was offered in conjunction with North West Shelf Venture's
successful bid for the Guangdong LNG supply contract.
North West Shelf Australia LNG is the LNG marketing services organisation
for the North West Shelf Venture and markets LNG in China under
the Australia LNG brand.
The six equal participants in the North West Shelf Venture are:
Woodside Energy Ltd
(Operator); BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP
Developments Australia Pty Ltd; ChevronTexaco Australia Pty Ltd;
Japan Australia LNG (MIMI) Pty Ltd; and Shell Development (Australia)
Proprietary Limited.
For more information see www.woodside.com.au.
Posted by Richard Price,
Editor Pipeline Magazine
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