Australian $90 billion gas megadeal with Japan

AUSTRALIA has cemented its biggest trade deal with a $90 billion agreement to export liquefied natural gas to Japan.

The contract, signed on the eve of the international climate change conference in Copenhagen, comes as big Asian countries scramble to lock up long-term supplies of the low-emissions fuel.

US oil giant Chevron announced on the weekend it would deliver 4.1 million tonnes of LNG from its Wheatstone project off the coast of Western Australia to Japan’s largest utility, Tokyo Electric Power Co, each year for up to 20 years.

Herald Sun