International Business

Petronet LNG to buy 1.5 MT a year from Exxon's Aus arm

Petronet LNG, the nation"s largest liquefied natural gas importer, today signed an agreement to import 1.5 million tons of LNG Australia. Petronet signed a sales and purchase agreement (SPA) with the Australian subsidiary of Exxon Mobil Corp for buying 1.5 million tons a year of LNG for 20 years from the proposed Gorgon LNG project, a company press release said here. US energy major Chevron Corp is the operator of the Gorgon project with a 50 per cent stake while Exxon Mobil and Royal Dutch/Shell hold 25 per cent each.

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