Minister for Resources and Energy, Martin Ferguson AM MP, welcomed the signing of a binding agreement between Australia Pacific LNG (APLNG) and the Sinopec Group of China.
Minister Ferguson said the agreements represent another important milestone for the APLNG project and further cement Australia’s place as a major supplier of energy to the Asia Pacific Region, which will be a global economic powerhouse of the 21st century.
“ This deal further emphasises Australia’s link into the Asia Pacific Region and in particular with China. This relationship has continued to build since Australia first started to export LNG from the North West Shelf Venture Project to China in May 2006 ,” Minister Ferguson said.
“ Today’s agreement with Sinopec will see Australia continue to be a preeminent supplier of safe, secure and low emission energy to China with more than 18 million tonnes of LNG per annum now under contract to China from Australia .”
Minister Ferguson also emphasised the role that the LNG industry is playing in the recovery of Queensland from the economic impact of the 2011 cyclone and floods and in insulating Australia from ongoing global economic uncertainty.
“ The $14 billion APLNG Project is part of the $45 billion being invested in Gladstone and regional areas of central and southern Queensland by the LNG industry. A second train at APLNG will add to this figure ,” Minister Ferguson said.“ The scale of investment means thousands of jobs in construction, operations and support services for Queensland over the next 20 to 30 years, including in many of the regional areas and towns which have struggled with drought, floods and depressed agricultural prices over the past decade. It means billions of dollars in export income for the wider Australian economy .”
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