Press Release Back Number(2005)

Basic agreement concluded on sale of liquefied natural gas from Gorgon project

November 22, 2005
Chubu Electric Power Co., Inc.

On November 20, Chubu Electric Power Co., Inc. and Chevron Australia concluded a nonbinding basic agreement on the sale of liquefied natural gas (LNG) from the Gorgon project.

Drawing on undersea gas fields off Australia's northwestern coast as a supply source, the Gorgon project includes plans to build production facilities on Barrow Island in the State of Government of Western Australia. The project promises access to abundant reserves totaling approximately 1.1 trillion cubic meters.

Gorgon project operator Chevron offers a wealth of experience with LNG operations.

Chubu Electric Power has worked with Chevron Australia since 1989 on the Northwest Shelf LNG project.

Chubu Electric Power and Chevron Australia plan to continue discussing the specifics of the LNG sale.

Also under consideration is the potential acquisition of interest in the project.


Summary of this basic agreement:


  • • Seller: Chevron Australia
  • • Buyer: Chubu Electric Power Co., Inc.
  • • Term: 25 years, beginning 2010
  • • Volume: 1.5 million tons/year
  • • Source: Gorgon LNG project