Proposed multi-billion dollar venture beneficial to both countries...
A study for an LNG terminal in China should be completed by mid-2004, according to Australian authorities. If the project is implemented, it would be Australia's third multi-billion dollar supply deal with the world's most populous country.
The proposed terminal, to be built near Shanghai, would be China's third import terminal for LNG from Australia. The other two terminals are still being built.
China expects the first terminal to receive LNG in 2006.