The countries of AUSTRALIA and China have signed a $35-billion liquid natural gas deal, as the nations' two leaders revealed plans for closer security ties after meeting today.
Prime Minister John Howard of Australia and Chinese leader Hu Jintao witnessed the huge liquid natural gas deal during a bilateral meeting on the sidelines of the APEC summit this week.
In a joint press announcement, the two countries'leaders said China and Japan would now hold annual security meetings, in what amounts to a significant upgrade of relations between the two countries.
Australia's Mr Howard and China's Mr Hu signed a number of agreements aimed at strengthening ties between the two countries, and struck deals on extradition, prisoner exchange and energy.
Among the liquid natural gas deals was a $35-billion agreement between Woodside Energy and PetroChina Co Ltd.
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