A long term LNG deal worth a whopping $90 Billion, which is being termed as the "largest sales contract for any Australian export industry", has been awarded to Western Australia, a development much welcomed by Premier Colin Barnett.

Under the agreement, as much as 4.1 million tones of LG will be exported each year, and will underpin a development off the area of Pilbara Coast. The 20 year deal between Chevron and the Tokyo Electric Power Company will be effectively able to secure the future of the Wheatstone LNG project.

Also, as believed by Mr. Barnett, the major deal will be able to secure his company's position as the second largest LNG producer in the world. A position which the firm hopes to reach by 2020. "The sales contract amounts to some $90 billion. In my judgments that would be the largest sales contract for any Australian export industry - this is an historic agreement", he said.

Its final investment in the decision will be made by Chevron in 2011. The company still needs to gain various planning and environmental approvals for the picked processing sire in Onslow.