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Toyota Tsusho Corp., the trading company of Japan's biggest automaker, Toyota, announced recently it has entered an arrangement to supply coal-bed methane to BG Group Plc.'s liquefied natural gas project.
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BG Group's Queensland Curtis plant is the world's first LNG project to use coal-bed methane for liquefaction. It is expected to be operational in 2014.
Australia is seen to become the world leader in the development of LNG projects, with LNG becoming its third leading commodity export, next to iron ore and coal.
As of end October, business investments in Australia soared 14 per cent in the third quarter, primarily boosted by movements in the LNG sector.
According to Canberra-based research company Deloitte Access Economics, projects worth $434 billion have been committed or are already in progress as of Sept. 30. Most are LNG projects in Western Australia and Queensland.
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In a statement, Toyota Tsusho Corp. said it will supply the Queensland LNG Curtis plant with coal-bed methane for 20 years, which is sourced from a coal bed also located in Queensland, Australia, where it is owned 15 per cent by the trader.
Toyota Tsusho Corp. is controlled 21.6 per cent by Toyota Motor and 11.6 per cent by Toyota Industries Corp.
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