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The Australian gas provider Woodside Petroleum has announced that a proposed US$41 billion deal to sell liquefied natural gas (LNG) to PetroChina has expired without final agreement being reached.
In a statement Woodside said that the deal, which involved the company exporting 2 to 3 million tonnes a year of LNG from the Browse project in Australia to China, expired on January 21, 2009.
“Woodside and PetroChina have agreed to keep each other informed of progress in their respective LNG export and LNG import projects,” the statement said.
The deal reportedly fell through after it became obvious that the initial start date of 2013 was not feasible.
However, the deal falling through is good news for Qatar as it seeks customers for the vast supplies of LNG due to become available in the next two to three years.
