Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

Under the agreement, the Gorgon joint venture will export some $50 billion worth of liquid natural gas to China. A week earlier, Exxon Mobil and Petronet signed a multibillion dollar deal to supply Gorgon LPG to India. This confirms the strength of Australia’s trade and investment relationship with these two economic giants of our region. It also confirms Australia’s continued status as a global energy superpower supplying clean energy to the world.

On Monday the Commonwealth and the government of Western Australia announced that they will jointly accept any long-term liability arising from the storage of carbon dioxide associated with the Gorgon project. This clears the way for the joint venturers—Chevron, Exxon Mobil and Shell—to make a final investment decision before the end of the year. Economic modelling undertaken by the joint venturers suggests that overall the Gorgon project will create some 6,000 jobs in the construction phase and 3,500 ongoing jobs over the life of the project.