Press Release 2012

Chubu Electric signs a 16 year LNG sales and purchase agreement with BP

February 10, 2012

Chubu Electric Power Co.,Inc.

Chubu Electric Power Co., Inc. ("Chubu Electric") announced that it had today executed a fully termed LNG sales and purchase agreement with BP Singapore Pte. Limited.

This agreement is for Chubu Electric to purchase LNG supplied from BP's global LNG portfolio by BP Singapore Pte. Limited.

Chubu Electric is to purchase approx. 8 million tonnes over 16 years commencing FY 2012, on a DES basis.

Chubu Electric believes that this LNG supply from a variety of BP's portfolio sources will contribute to the procurement of stable and flexible LNG supply.

Outline of the agreement

Seller

BP Singapore Pte. Limited

Buyer

Chubu Electric Power Co., Inc.

Term

16 years commencing FY 2012

Quantity

Total quantity of LNG to be delivered is approximately 8,000,000 tonnes

Delivery

DES basis

Profile of BP

Full name

BP Singapore Pte. Limited

Address 

1 HarbourFront  Avenue, #02-01 Keppel Bay Tower, Singapore 098632

Representative

Pek Hak Bin, Country President

Establishment

1964

Business

Oil and Gas Integrated Supply and Trading, Gas, Shipping, Consumer Lubricants, Industrial Lubricants, Marine Fuel and Lubricants, and Aviation Fuel and Lubricants