Chevron signs long term LNG contracts

Written By Unknown on Selasa, 01 Oktober 2013 | 15.02

ENERGY giant Chevron has signed long term agreements to supply liquified natural gas (LNG) to a Japanese company from its $30 billion Wheatstone Project in Western Australia.

Chevron subsidiaries Apache Energy and Kuwait Foreign Petroleum Exploration Company will supply Tohoku Electric Power Company with 900,000 tonnes of LNG each year for up to 20 years.

The deal means 85 per cent of Chevron's share of LNG from Wheatstone is now committed to customers in Asia on a long term basis, Chevron Australia managing director Roy Krzywosinski said.

The project is a joint venture between Australian subsidiaries of Chevron, which have a 64 per cent stake, Apache Energy, which has 13 per cent, and Kuwait Foreign Petroleum Exploration Company, which is a seven per cent shareholder.

Shell, Kyushu Electric Power Company and PE Wheatstone also have small shares in the project.

The Wheatstone project consists of two LNG trains with a combined capacity of 8.9 million tonnes per annum, and a domestic gas plant which is located 12 kilometres west of Onslow in Western Australia.


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