Chevron’s Australian subsidiaries have signed binding sales and purchase agreements with Tokyo Electric Power Company (TEPCO) to supply liquefied natural gas (LNG) from the Wheatstone natural gas project in Australia.
Chevron, in collaboration with Apache Energy and Kufpec, will deliver up to 3.1 million tonnes of LNG per year to TEPCO for up to 20 years.
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TEPCO will also acquire an equity share in the Wheatstone fields and a percentage of Chevron’s share in the Wheatstone downstream processing facilities.
The foundation phase of the Wheatstone project will consist of two LNG trains with a combined capacity of 8.9 million tonnes per year and a domestic gas plant.
Chevron Australia managing director Roy Krzywosinski said that the project had completed the front-end engineering and design phase and that the firm will make a final investment decision this year.
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By GlobalData
