Press Release
Conclusion of Contract for Purchase of LNG produced by Wheatstone Project
March 29, 2013
Chubu Electric Power Co.,Inc.
Chubu Electric Power Co., Inc. concluded a contract with Chevron, Apache Energy and KUFPEC for the purchase of liquefied natural gas (LNG) produced by the Wheatstone Project in Western Australia yesterday.
This contract, for the purchase of 1 million metric tons of LNG per year for up to 20 years from 2017 on FOB basis, will contribute to our ability to procure a stable and economical supply of LNG into the future.
Chubu Electric Power will continue its endeavors to enhance the fuel supply chain for more reliable, economical and flexible procurement.
[Overview of contract for purchase of LNG]
|
Sellers |
Chevron Australia Pty. Ltd. Chevron (TAPL) Pty. Ltd. Apache Julimar Pty Ltd. Kufpec Australia (Julimar) Pty Ltd. |
|---|---|
|
Purchaser |
Chubu Electric Power Co., Inc. |
|
Period |
up to 20 years from 2017 |
|
Quantity |
1 million metric tons per year |
(Reference)Overview of Wheatstone Project
|
Gas fields |
Wheatstone, Iago, Julimar and Brunello |
|---|---|
|
Liquefaction capacity |
8.9million metric tons per year |
|
Commencement of supply |
2016 |
|
Base for shipments |
Ashburton North |
|
Participating companies |
Chevron Corporation (64.14%, operator), Apache Julimar Pty Ltd.(13.00%), PE Wheatstone Pty Ltd. (8.00%), Kuwait Foreign Petroleum Exploration Company (KUFPEC, 7.00%), Shell (6.40%) and Kyushu Electric Power Company (1.46%). |
[Courtesy: Chevron Australia Pty. Ltd.]