When natural gas can be sold for more than $US10 per million British Gas

BHP Billiton Australia Ltd.

announced it will purchase natural gas for about $US11.70 per million cubic metres at the LNG terminal at BHP’s Port of Noumea, Queensland, on Thursday.BHP will purchase the liquefied natural gas (LNG) gas from Natural Resources Queensland for about a million tonnes of LNG, said the company in a statement.

Brent crude oil prices have been rising to about $60 per barrel in recent months, partly due to low supply from the United States, as well as increasing geopolitical tensions in the Middle East.

The price of Lng is expected to be about $11 per million.