Australia Pacific LNG has signed a contract with Chinese petroleum and chemical company, Sinopec Corporation, for the supply of up to 4.3 million tonnes of LNG per annum for 20 years.

 

Australia Pacific LNG Pty Limited is a joint venture between Origin Energy Limited and ConocoPhillips. The Australia Pacific LNG project includes the development of Australia Pacific LNG’s coal seam gas resources in the Surat and Bowen Basins over a 30-year period, a 450 km transmission pipeline, and a multi-train LNG facility on Curtis Island, near Gladstone.

 

Sinopec (China Petrochemical Corporation) is the world’s second-largest oil refiner (by refining capacity), and China’s largest petroleum/chemicals producer and supplier.

 

According to APLNG, at its peak the project will generate around 6000 direct jobs in construction, with approximately 1000 direct jobs in the operational phase of the project.

 

The APLNG estimates put the annual contribution to the economy of the Darling Downs and South West region of Queensland at up to $900 million during operation, while the economy of the Mackay-Fitzroy-Central West region could see an increase of up to $770 million a year during the construction phase.

 

On a state level, APLNG estimates the project could stimulate an increase in Queensland's Gross State Product of approximately $2 billion per annum. LNG exports from the APLNG project are expected to commence in 2015.