Australia's QCLNG project
QGC Pty Limited, along with joint venture partners China National Offshore Oil Corporation and Tokyo Gas, reported that a two-year, $1.2 billion (AUD 1.7 billion) development of its natural gas tenements west of Wandoan to support gas production for the Queensland Curtis liquefied natural gas (LNG) project in Australia.
The investment, which follows receipt of Commonwealth and State Government environmental approvals, has been approved by QGC’s parent company BG Group and the joint venture partners.
BG Group’s share of the investment is within the Group's previously disclosed capital expenditure program. QGC has a 73.75 percent interest in the relevant natural gas tenements.