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LNG to fuel Queensland jobs

INCREASED investment in the LNG industry has been tipped to boost jobs in Queensland.

Premier Anna Bligh welcomed the investment by Chinese oil giant Sinopec who has amended its deal with Australia Pacific LNG and will now buy 7.6 tonnes per annum (mtpa) of LNG through to 2035, up from 4.3 million (mtpa).

Sinopec said it would also increase its share holding in Australia Pacific LNG from 15% to 25%.

The Premier said the deal further cemented Queensland as a major international player in CSG to LNG projects and all Queenslanders would benefit.

"You can't build a brand new industry that could create 18,000 jobs without companies putting pen to paper and signing huge deals," Ms Bligh said.

"A long term deal of this magnitude means jobs and prosperity from an industry that was just a pipedream here a decade ago.

"It also means a big investment in our children.

"We've committed 50% of future LNG royalties - projected at more than $1.8 billion in the next 10 years alone - to the Queensland Education Trust to invest in our most precious asset - Queensland's children," she said.

Topics:  anna bligh investment jobs lng



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