Shell Group agreed to export more than billion of liquefied natural gas from the proposed
Royal Dutch/Shell Group agreed to export more than $10 billion of liquefied natural gas from the proposed Gorgon project in Western Australia to a terminal in Mexico.
Shell will export 2.5 million metric tons a year of gas to the Energia Costa Azul terminal being built in Baja California for as long as 25 years, the ChevronTexaco Corp-operated Gorgon venture said yesterday.
Gas deliveries are expected to begin in 2010, it said. The terminal near Ensenada will be the first to import LNG to North America's West Coast, enabling producers in the Asia-Pacific region to boost shipments. Australian LNG ventures have the potential to win sales contracts in North America worth A$50 billion (US$38.4 billion) over 20 years, Federal Industry Minister Ian Macfarlane said in January.