PetroChina Co.agreed to purchase liquid natural gas from the massive Gorgon liquid natural gas project on Barrow Island off the west coast of Australia in a 20-year deal with Exxon Mobil.worth an estimated $41 billion, according to Australian officials cited in press reports.
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Exxon Mobil owns a 25% stake in the planned Gorgon project, which moved closer to approval by the Australian government this week. The binding agreement with Exxon is the third struck by PetroChina for LNG imports from Australia since September 2007 and marks Australia's biggest trade deal ever, according a report by Dow Jones Newswires citing Martin Ferguson, the energy and resources minister for Australia.
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