WITH much front page hype, the federal government last week announced what it claimed was Australia's biggest ever deal when PetroChina agreed to buy 2.25 million tonnes of LNG a year for 20 years, worth $50 billion.

WITH much front page hype, the federal government last week announced what it claimed was Australia's biggest ever deal when PetroChina agreed to buy 2.25 million tonnes of LNG a year for 20 years, worth $50 billion.