CNOOC Ltd has signed a Heads of Agreement with the NWS participants, BHP Petroleum (North West Shelf) Pty Ltd, BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd, Shell Development (Australia) Proprietary Ltd and Woodside Energy Ltd, on a new joint venture to develop North West Shelf gas in Australia, pending the result of the current Guangdong LNG supply bid. The proposed joint venture, China LNG JV, targets China’s LNG market for its gas development project. CNOOC will co-invest in the development of Australia’s North West Shelf Gas Project for the sale of LNG to China markets. Under the agreement, CNOOC Ltd will invest with other participants in the venture that will produce and process natural gas for LNG supply targeted for China.
