8,500 Construction Jobs created as Australia Signs $60 Billion Gas Deal

THE signing of Australia's largest ever natural gas deal is expected to deliver up to 8500 construction jobs and another 1000 operational jobs.

The contract which could be worth between $60 - $80 billion over the 20 – year life of the project will see 3.6 million tonnes of LNG each year supplied to the China National Offshore Oil Corporation from the BG groups Curtis Island Project at Gladstone in Queensland.

Federal and State environmental approval for the project was expected by the middle of this year.The Australian reports the deal for the proposed project is the world’s first fully termed sales and purchase agreement for LNG sourced from coal seam gas.

Chinese investment in Australian resources has been the centre of heated debate over the past year however Australia seems committed to strengthening their relationship with China with more than $26bn of Chinese investment was approved in the Australian resources sector in 2008-09.