Signs Gas Memorandum

BHP Billiton Limited
1 November 2001


    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: 1 November 2001

Number: 27/01

              BHP BILLITON SIGNS GAS MEMORANDUM OF UNDERSTANDING


BHP Billiton, together with the other participants in the North West Shelf
(NWS) Venture, today signed a Memorandum of Understanding with Methanex
Australia Pty Ltd for the supply of gas to a proposed methanol plant on the
Burrup Peninsula, Western Australia.

The agreement was signed by the six NWS Venture participants and involves the
supply of 200 terajoules of gas a day over a 25 year period from 2005.

Under the agreement, there is also a provision for the NWS Venture to supply a
further 200 terajoules a day should Methanex proceed with plans to double
production.

It is intended to convert the Memorandum of Understanding into a gas sales
agreement by the end of this year, subject to approval by the BHP Billiton
Board.

The proposed Burrup Peninsula plant will be supplied with Australian Feedstock
GasTM from the NWS Venture's existing facilities at Karratha. Australian
Feedstock GasTM is a medium pressure industrial quality natural gas used
specifically for projects that require large quantities of gas for downstream
processing.

Methanex Australia Pty Ltd is a subsidiary of Methanex Corporation of Canada,
which supplies about a quarter of the world's methanol market and more than 30
per cent of the Asia-Pacific market.

BHP Billiton's equity in the North West Shelf Venture is 16.67 per cent. The
other participants are Woodside Energy Ltd (operator - 16.67 per cent); BP
Developments Australia Pty Ltd (16.67 per cent); Chevron Australia Pty Ltd
(16.67 per cent); Japan Australia LNG (MIMI) Pty Ltd (16.67 per cent); and
Shell Development (Australia) Proprietary Limited (16.67 per cent).

                                     ****

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

Australia                                 United Kingdom

Robert Porter, Investor Relations         Ariane Gentil, Manager Communications
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                                          United States

Mandy Frostick, Media Relations           Francis McAllister, Investor
                                          Relations
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                                          [e-mail]


South Africa

Michael Campbell, Investor & Media Relations
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