Australia’s Chevron-led A$50bn ($42bn) Gorgon liquefied natural gas venture cleared a significant hurdle on Wednesday when Canberra gave environmental approval to the project, which will supply the fuel to China, India and Japan, reports Bloomberg. The ruling was one of the final obstacles before Chevron, Royal Dutch Shell and Exxon Mobil can proceed with plans to build the venture off Australia’s northwest coast. Already, however, China on Aug 18 signed a record LNG export deal under which PetroChina will pay Exxon $41bn over two decades for LNG from Gorgon.

This entry was posted by Gwen Robinson on Wednesday, August 26th, 2009 at 4:37 and is filed under Commodities. Tagged with chevron, Exxon Mobil, Gorgon, Royal Dutch Shell. Edit this entry.