Signs China LNG Agreements

BHP Billiton Limited
18 October 2002


     BHP Billiton Limited is issuing this announcement to fulfil disclosure
  obligations arising from its secondary listing on the London Stock Exchange.

    The text of this release is identical to that issued by BHP Billiton Plc
                                    earlier.


Date                 18 October 2002
Number               53/02

           BHP BILLITON SIGNS CHINA LNG SALES AND PURCHASE AGREEMENTS

BHP Billiton, together with the other participants in the North West Shelf
Venture, today signed Sales and Purchase Agreements with the companies
comprising the Guangdong LNG Project for the purchase and supply of liquefied
natural gas (LNG) from the North West Shelf (NWS) in Western Australia.

The agreements were signed by the six NWS LNG Sellers and cover the supply of
approximately 3.3 million tonnes of LNG per year to Phase One of the Guangdong
LNG Project for a period of 25 years starting in late 2005. The contract is
worth between A$20 billion and A$25 billion.

The Guangdong LNG project is China's first LNG project and involves the
construction of an LNG import terminal and high-pressure gas pipeline in two
phases.

President and CEO BHP Billiton Petroleum Philip Aiken, the North West Shelf
Owners' Representative for the deal, said at the signing ceremony today in
Canberra that he was delighted to participate in such an historic event.

'The occasion marks the beginning of the North West Shelf's commercial
relationship with the Chinese LNG project proponents and a new phase of supply
of North West Shelf LNG to China,' Mr Aiken said.

'The agreements are very important for the overall bilateral relationship
between China and Australia, reinforcing Australia's position as a competitive,
reliable and secure supplier of LNG to the Asia Pacific region.

Mr Aiken also believes that the deal is significant for the future of BHP
Billiton to supply into the Chinese market. 'Whether it's iron ore or coal or
LNG, the Chinese market is huge and growing, and having a strong position early
is very important.'

'We look forward to working with the proponents of the Project and hope that we
can find new opportunities to extend our working relationship in the future.'

BHP Billiton Chairman Don Argus praised Mr Aiken who, as North West Shelf
Owners' Representative for the deal, acted as pivotal link between the
commercial negotiating teams and the political view; the Commonwealth and
Western Australian Governments; the Department of Foreign Affairs and Trade; and
the Project's marketing agent Australia LNG for their significant roles in
bringing the deal to fruition.

Mr Argus said: 'The fact that we had the unshakable support of the Government
was very important. In particular I would like to thank the Prime Minister John
Howard, the Western Australian Premier Geoff Gallop and former WA Premier
Richard Court for their sustained support and assistance. '

The companies comprising the Guangdong LNG project are:


        China National Offshore Oil Company

        Shenzhen Investment Holding Corporation

        Guangdong Yuedian Power Assets Managing Co. Ltd

        Guangzhou Gas Company

        The Hong Kong & China Gas Company Limited

        Hong Kong Electric Holdings Limited

        Foshan Municipal Gas General Company

        Dongguang Fuel Industrial General Company

        BP Global Investments Limited

The NWS Venture is currently constructing a fourth LNG processing train at the
Venture's gas processing facilities on the Burrup Peninsula, Western Australia,
and a second trunkline from the North Rankin A Platform to shore. First LNG from
the fourth train is scheduled for mid-2004.

Further infrastructure investments are now being assessed to supply future
opportunities and contractual obligations.

BHP Billiton has a 16.67 per cent equity interest in the North West Shelf
Project.

                                      ****

Further news and information can be found on our Internet site: www.bhpbilliton.com

Australia                                              United Kingdom

Andrew Nairn, Investor Relations                       Mark Lidiard, Investor & Media Relations
Tel: + 61 3 9609 3952 Mobile: [phone]          Tel: [phone]
email: [e-mail]                  email: [e-mail]
Mandy Frostick, Media Relations                        South Africa
Tel: [phone] Mobile: [phone]           Michael Campbell, Investor & Media Relations
email: [e-mail]                Tel: [phone] Mobile: [phone]
                                                       email: [e-mail]

United States

Francis McAllister, Investor Relations
Tel: [phone] Mobile: [phone]
email: [e-mail]

BHP Billiton Limited ABN 49 004 028 077                     BHP Billiton Plc Registration number 3196209
Registered in Australia                                     Registered in England and Wales
Registered Office: 600 Bourke Street Melbourne Victoria     Registered Office: 1-3 Strand London WC2N 5HA United Kingdom
3000                                                        Telephone [phone] Facsimile [phone]
Telephone [phone] Facsimile [phone]

              The BHP Billiton Group is headquartered in Australia

                      This information is provided by RNS
            The company news service from the London Stock Exchange