Petronet LNG Limited, one of the fastest growing, world class companies in the Indian energy sector, and Subsidiaries of Exxon Mobil Corporation, today signed an agreement to supply LNG from the proposed Gorgon LNG project in Australia for the Kochi terminal in India.

Both partners said they would continue working of binding agreement to conclude the purchase and sale in June.

It should be noted that the agreement will provide for ExxonMobil's subsidiaries Mobil Australia Resources Company Pty Ltd. and Mobil Exploration and Producing Australia Pty Ltd to supply approximately 1.5 MTA (million tons annually) of LNG with the potential for additional supply, for a 20-year term.

Both the companies declined to disclose any commercial details regarding the contract, by saying that these are confidential.

The counter of Petronet LNG settled the day at Rs 52.95 on BSE, up 2 per cent compared to previous close of Rs 51.70.