There's a common link to both. Bow's director RP was 1 of the...

There's a common link to both. Bow's director RP was 1 of the founders of AOE 10 years back, hence the 'B&A' theme.

Am a bit surprised to see Petrochina as Shell's partner in this venture. Have been reading about CNOOC & Sinopec buying LNG frm PNGLNG & GLNG on the east coast.

PTR r cashed up allright & have been spending bigtime on buying LNG from the Gorgon Project in the West. I guess their rationale would b why pay so much for LNG when u can own a company (with the resource) that produces it!!

Here r the 2 major deals from August '09 that PTR were involved in at Gorgon:

1) With Exxon: Agree to buy $50b worth of LNG, ie 2.25 mtpa for 20 years.
2) With Shell: $33b for 2 mtpa for 20 years.

On 31/12/09, Petrochina's agreement to buy 2-3 mtpa LNG from Woodside's Browse basin expired.

Interesting articles posted about this deal by the global media, here's the link & follow the links to Financial Times, Wall Street Journal etc.

http://finance.yahoo.com/q?s=PTR