facebook
twitter
rss
account
search
search
 

Japan takes on more Wheatstone LNG

March 29, 2013 at 6:53 AM   |   Comments

SAN RAMON, Calif., March 29 (UPI) -- A Japanese utility company secured a deal for 1 million tons of liquefied natural gas from Australia per year for 20 years, Chevron Corp. said.

Chevron announced the long-term sales and purchase agreement with Japanese utility Chubu Electric Power Co. for LNG from the Wheatstone project in Australia.

Chevron Regional Managing Director Roy Krzywosinski said the deal showcases Wheatstone's value to the Asia-Pacific.

"More than 80 percent of Chevron's equity LNG from Wheatstone is covered under long-term, off-take agreements with customers in Asia," he said in a statement.

First gas is expected by 2016 from Wheatstone LNG.

Economic growth in Asia suggests a regional increase in demand for natural gas. Japan started taking on more natural gas after the Fukushima Daiichi nuclear disaster in 2011.

"The agreements demonstrate that Wheatstone is well-placed geographically to meet the Asia-Pacific region's growing demand for a safe, reliable and cleaner-burning source of energy," Krzywosinski said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
3
No means yes for Scotland, energy companies say No means yes for Scotland, energy companies say
4
API: Oil imports at historic low API: Oil imports at historic low
5
Exxon grabs more Permian shale Exxon grabs more Permian shale
Trending News
Video
x
Feedback