Mr. Wei Liucheng, Chairman and CEO of CNOOC Limited, stated that "LNG will play an increasingly important role in meeting China's growing energy demand. CNOOC has already developed a competitive advantage in China's LNG and natural gas markets. A potential partnership with Gorgon will further enhance our substantial position in this market and it will create a win-win outcome for China and Australia."
The Gorgon participants consist of ChevronTexaco (4/7th interest and operator), Shell (2/7th) and ExxonMobil (1/7th). The Gorgon development, located off the north-west coast of Australia, has certified proved reserves of approximately 11 trillion cubic feet (Tcf).
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