Shell, PetroChina sign conditional LNG deal

Updated Wednesday, September 5, 2007 0:00 am TWN, AP

Shell, PetroChina sign conditional LNG deal

MELBOURNE, Australia - Royal Dutch Shell PLC signed a conditional agreement with PetroChina Co. to sell 1 million metric tons of liquefied natural gas a year from the Gorgon project off the coast of Western Australia. Shell, the second largest oil and gas company by revenues, said the agreement covers a 20-year period and is conditional on the Gorgon partners reaching a final investment decision on the project.

The pair will work on concluding a detailed LNG sales and purchase agreement before December 2008, Shell said.

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