Signs Gas Sale with TXU
BHP Billiton Limited
17 December 2003
BHP Billiton Limited is issuing this announcement to fulfil disclosure
obligations arising from its secondary listing on the London Stock Exchange.
The text of this release is identical to that issued by BHP Billiton Plc
earlier.
Date 17 December 2003
Number 39/03
BHP BILLITON SIGNS GAS SALE AND PURCHASE AGREEMENT WITH TXU ELECTRICITY
BHP Billiton, together with its joint venturer Esso Australia Resources Pty Ltd,
today announced the signing of a substantial gas sale and purchase agreement
with TXU Electricity Ltd (TXU).
The agreement is for the sale and purchase of 825 petajoules gross of Bass
Strait gas to TXU in the period 2004 to 2017. First gas sales are scheduled to
commence on 1 January 2004.
'This is a significant milestone for the Bass Strait joint venture involving one
of the largest sales of Gippsland gas since long-term supply arrangements were
entered into with the Victorian Government in the late 1960s,' said Philip
Aiken, President and Chief Executive Officer for BHP Billiton Petroleum.
Currently, the majority of gas entering the South Eastern Australia gas market
is supplied under a long-term contract between BHP Billiton/Esso and the
previously State Government owned Gascor. This contract is due to expire towards
the end of the decade.
'The agreement is consistent with BHP Billiton's gas marketing strategy which is
to increase our market diversification and secure new gas markets and volumes,'
Mr Aiken said.
In the 34 years since the BHP Billiton/Esso Bass Strait joint venture began
production in October 1969, more than 3.5 billion barrels of oil and 5 trillion
cubic feet of gas have been produced. Current production is around 120 thousand
barrels per day of crude and condensate, and 570 million cubic feet per day of
gas.
BHP Billiton and Esso are also continuing with exploration and production
activity in the Gippsland Basin. In October the joint venture announced that it
is planning to commence what is expected to be the largest combined exploration
and production drilling program in the Gippsland Basin since the 1980s.
BHP Billiton has a 50 percent interest in the Bass Strait oil and gas project
with joint venturer Esso Australia Resources Pty Ltd (50 percent, operator).
Further information on BHP Billiton can be found on our Internet site: http://
www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media Relations
Tel: +61 3 9609 3952 Mobile: +61 408 313 259 Tel: +44 20 7802 4156
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tania Price, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 3815 Mobile: +61 419 152 780 Tel: +44 20 7802 4177
email: Tania.Price@bhpbilliton.com email: Ariane.Gentil@bhpbilliton.com
United States South Africa
Francis McAllister, Investor Relations Michael Campbell, Investor & Media Relations
Tel: +1 713 961 8625 Mobile: +1 713 480 3699 Tel: +27 11 376 3360 Mobile: +27 82 458 2587
email: Francis.R.McAllister@bhpbilliton.com email: Michael.J.Campbell@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
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