China, Australia enhance energy cooperation
(Xinhua)
Updated: 2004-04-27 09:06

Australia's Gorgon LNG Venture launched its China representative office in Beijing on Monday, indicating tighter cooperation on energy between the two countries.

Gorgon, located in the northwest of Australia, is the largest gas field ever discovered in the country, owning a certified reserve of over 365 billion cubic meters.

The Gorgon venture was jointly established by three international energy giants, including ChevronTexaco, Shell and ExxonMobil. ChevronTexaco is in charge of developing and marketing the natural gas in this project.

During Chinese President Hu Jintao's visit to Australia last October, China National Offshore Oil Corporation (CNOOC) reached an agreement with Gorgon on holding shares of upper-reach development and purchasing its LNG product in the future. Further discussions to a final contract between the two sides are underway.

"The opening of an exclusive Gorgon representative office in Beijing is a significant step and indicates the importance of China as a destination for Gorgon LNG," said Jay Johnson, managing director of ChevronTexaco Australia.

He believed that COONC will add investment in Australian energy fields so as to get more LNG from the country to sustain China's economic development.

Australia, rich in natural gas, will act as a reliable and safe supplier of LNG for China, which is in great demand of energy resource products, he said.

Gorgon, expected to become a leading natural gas supplier, has prepared well for meeting the energy demand of China, he added.