Federal Treasurer
Origin Energy on Thursday announced that a final investment decision had been made on its $US20 billion ($A18.21 billion) liquefied natural gas joint venture with ConocoPhillips at Gladstone.
"We're quite excited by this decision," Mr Swan told reporters in Sydney.
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"It demonstrates the faith that international investors have in the future of our LNG industry."
Mr Swan said the project would create 6000 construction jobs and an additional 1000 ongoing jobs.
The project was proof that Opposition Leader Tony Abbott's claims about the adverse impact a carbon price would have on investment were "bunkum".
"I wish Mr Abbott would just stop talking down our economy," Mr Swan said.
The first phase will include $US14 billion ($A12.75 billion) to complete the first LNG train for a sales agreement for 4.3 million tonnes a year to be sold to China's Sinopec Corp.
It was the largest single LNG sales agreement by annual volume to be signed in Australia, Origin said in a statement.
The full two-train LNG development would have a capacity of nine million tonnes per annum and would cost of $US20 billion ($A18.21 billion), Origin said.
One of the largest CSG projects under development, the Australia Pacific LNG joint venture will supply CSG from fields in south-central Queensland to Chinese state-owned Sinopec in a $90 billion deal.
The deal for the second LNG train is expected by the end of the year.
Sinopec, a Chinese energy giant, will have a 15 per cent equity interest in the joint venture, Origin chief executive Grant King said in a statement.
In April Origin and ConocoPhillips signed a binding agreement to supply LNG to Sinopec over 20 years, in a major LNG sale.
"This marks the commencement of one of the country's largest LNG export projects," Mr King said on Thursday.
"Sinopec's strong position in the Chinese market complements the proven CSG development capabilities of Origin and ConocoPhillips, together with ConocoPhillips' expertise in the licensing and use of Optimised Cascade LNG technology."
Origin shares were flat at 1157 AEST at $15.09 on a day in which stocks in nearly all sectors fell.
