Mallesons Acts On $60 Billion Trade Deal.. Surprise Surprise The Chinese Are Buying Natural Resources

Now we know why they can afford to lose a few $’s with Telstra.. they’ve just acted on a deal? in which a Chinese company has signed off on the purchase of about $60 billion worth of liquefied natural gas from a Queensland project

The New Lawyer Reports

Mallesons acted for Britain?s BG Group in its deal to sell LNG from its Queensland Curtis project to China National Offshore Oil Corporation (CNOOC) and CNOOC?s equity investment in that project.

The deal is one of the largest ever gas sales to Chinese interests.?

Resources Minister Martin Ferguson, who witnessed the signing of the deal in Beijing this week, said: ?This deal makes Australia the world leader in the coal seam gas-based LNG industry and it brings us one important step closer to opening up a new LNG province on Australia?s east coast in Queensland.?

?The Mallesons team was led by M&A partner, James Fahey and included partner, Joshua Cole and senior associate, Craig Rogers.

Fahey said: ?We are delighted to have worked on a deal that represents a significant milestone for Queensland?s booming LNG industry.?

?Fahey and Rogers have been key advisers to BG on all aspects of its Queensland Curtis LNG project.

The Queensland state government said the deal will add $14 billion to southern Queensland?s economy over the next 10 years.