Woodside - Tokyo Gas Sign Heads of Agreement for Pluto LNG

Source: www.gulfoilandgas.com 12/14/2005, Location: Not categorized

Woodside Energy Ltd. and Tokyo Gas Co., Ltd. have signed a heads of agreement for the supply of between 1.5 and 1.75 million tonnes of LNG a year on an ex-ship basis from Woodside’s 100% - owned Pluto gas field in Western Australia.

The heads of agreement provides for the supply of LNG for 15 years with an option to extend for a further 5 years, with deliveries starting from the end of 2010. The final LNG sales and purchase agreement is expected to be negotiated by the end of 2006 and will be conditional on a final investment decision by Woodside. The heads of agreement also provides for Tokyo Gas to purchase a 5% equity interest in the Pluto project.


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