Chevron inks additional LNG supply deal with Japan's TEPCO

19 Jun 2012

1

US energy giant Chevron Corp yesterday said that it would supply additional liquefied natural gas (LNG) to Japan's Tokyo Electric Power Co (TEPCO) as well as a 10 per cent of its stake in the Wheatstone liquefied natural gas project.

Under additional binding agreements signed yesterday, the San Ramon, California-based energy company will supply TEPCO with additional 400,000 tonnes per annum (MTPA) of LNG from its Wheatstone Project in Western Australia, for up to 20 years.

Tokyo-based TEPCO will also acquire a 10-per cent stake in Chevron's Wheatstone field licenses and an 8 per cent stake in Wheatstone natural gas processing facilities.

The two companies did not reveal the financial value for the agreements.

These agreements, and the previously announced sales and purchase agreement, increases TEPCO's total Wheatstone LNG offtake to 4.2 MTPA.

Chevron said that Tokyo Electric increased its long-term contract for liquefied natural gas by 400,000 million tons per year, or nearly 11 per cent, from Chevron's Wheatstone natural gas project.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers