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    Coat of ArmsMedia Release
    Deputy Premier, Treasurer and Minister for State Development and Trade
    The Honourable Andrew Fraser

    New LNG deal opens export gateway to Asia

    Deputy Premier, Treasurer and Minister for State Development and Trade
    The Honourable Andrew Fraser

    Wednesday, December 07, 2011

    New LNG deal opens export gateway to Asia

    Queensland’s ability to supply its LNG to South-East Asia has been given a major boost with a landmark deal signed between the Queensland Government and a major Vietnamese gas company.

    Speaking at the Queensland International Gas Symposium today, Deputy Premier, Treasurer and Minister for State Development and Trade Andrew Fraser said the new agreement with PetroVietnam Gas Corporation was a show of faith in Queensland’s LNG export industry.

    “This agreement confirms Queensland’s capacity to provide a reliable and secure source of LNG to the Asia Pacific region for decades to come,” Mr Fraser said.

    “With 98 per cent of Australia’s coal seam gas (CSG) reserves, we are the site for world-first CSG to LNG production.

    “PetroVietnam is a dominant gas entity, and this agreement will help Queensland LNG companies gain better access to the growing Vietnamese market.”

    Mr Fraser said that as Vietnam’s industrialisation continues to gather pace, so too will Queensland’s opportunities for trade with the region.

    “Queensland already enjoys a strong trading relationship with Vietnam, with merchandise exports to the region totalling, in preliminary terms, more than $216 million in 2010-11,” Mr Fraser said.

    “As we move into an increasingly carbon constrained economy, Asia Pacific nations will increasingly look to Queensland as a supplier of greener energy sources, such as LNG.

    “This agreement, facilitated by Trade and Investment Queensland, will pave the way for Queensland to supply LNG to Vietnam to help meet the region’s growing energy demands.”

    The Deputy Premier and PetroVietnam Gas Corporation’s Chairperson Madam Lan Nguyen Thi signed the cooperation agreement in Brisbane today as part of the Queensland International Gas Symposium.

    The Queensland International Gas Symposium: A World of Opportunities is being held at the Brisbane Convention and Exhibition Centre from 7-8 December to promote the exchange of ideas, experiences and expertise on the development of the LNG industry.

    Media contact: Deputy Premier’s office – 3224 5982