PetroChina Co. signed a liquefied-natural-gas import deal with Exxon Mobil Corp. worth $41.1 billion.
From John Porretto, Associated Press:
HOUSTON — Exxon Mobil may be synonymous with Big Oil, but two major deals announced this month show the company is focused on expanding natural-gas output.
On Tuesday, Exxon said it had reached a 20-year agreement to provide liquefied natural gas to PetroChina Co., Asia's largest oil and gas company, from the yet-to-be developed Gorgon gas field off Australia's far northwest coast. The deal is estimated to be worth $41 billion over the length of the pact, though production could be a few years off.
Exxon, the world's biggest publicly traded oil company, earlier signed a 20-year agreement to supply LNG from Gorgon to Petronet LNG Ltd., a major Indian gas importer.
