ExxonMobil and Petronet LNG Announce Agreement on Gorgon LNG Supply

Date: May 08, 2009


Subsidiaries of Exxon Mobil Corporation and Petronet LNG Limited today announcedagreement has been reached on intent to supply LNG from the proposed Gorgon LNGproject in Australia for the Kochi terminal in India.

The parties said they would continue working on binding agreements to conclude thepurchase and sale in June. The agreement will provide for ExxonMobil's subsidiaries MobilAustralia Resources Company Pty Ltd and Mobil Exploration & Producing Australia Pty Ltd tosupply approximately 1.5 MTA (million tons annually) of LNG with the potential for additionalsupply, for a 20-year term. The parties said the commercial details are confidential.
Petronet LNG Managing Director Prosad Dasgupta said �Petronet LNG looks forward tofinalizing the agreements and moving forward with the LNG infrastructure needed to supplynatural gas consumers in the Kerala region.�

ExxonMobil�s Luke Musgrave, Vice President LNG - Australia, said �We are pleased to moveforward with Petronet LNG on securing LNG sales from the Gorgon Project.�