Chevron and Chubu Electric Sign Major Gorgon LNG Deal

Source: www.gulfoilandgas.com 12/16/2009, Location: Not categorized

Chevron Corporation announced that its Australian subsidiaries have signed binding long-term Sales and Purchase Agreements (SPAs) with Chubu Electric Power for a portion of Chevron's share of liquefied natural gas (LNG) from the Gorgon Project.

Chevron agreed to supply Chubu Electric 1.44 million metric tons per year (MTPY) of LNG for 25 years. Also, Chubu Electric intends to purchase 0.417 percent equity from Chevron's stake in the Gorgon Project.

"We are pleased to build on our long-term relationship with Chubu Electric and welcome them as a foundation customer and equity participant in the Gorgon Project," said Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Company. "The SPA with Chubu Electric continues to build momentum toward commercializing our equity natural gas in the project."

The agreement follows the recent signing of three binding long-term SPAs with Osaka Gas, Tokyo Gas and GS Caltex, a 50 percent-owned Chevron equity affiliate, for delivery of a total of nearly 3 MTPY, as well as a Heads of Agreement with the Korea Gas Corporation (KOGAS) for 1.5 MTPY.

"The foundation customers in Gorgon are leading energy companies in the world's largest LNG markets. Our agreements position Chevron to deliver supplies to meet long-term demand in the growing Asia-Pacific region," said John Gass, president, Chevron Global Gas.

The Gorgon Project is operated by Chevron, which will have an approximate 47 percent interest in the project after the sale to Chubu.

The initial Gorgon Project development, in northwestern Australia, will include a three-train, 15 million-metric-tons-per-year liquefied natural gas facility and a domestic gas plant.


Canada >>  8/10/2022 - FortisBC Holdings Inc. (“FortisBC”) and Musqueam Indian Band (“Musqueam”) are announcing the signing of an agreement, which will result in the parties...
Congo >>  8/5/2022 - Eni informs that it has acquired the company Export LNG Ltd, which owns the Tango FLNG floating liquefaction facility, from Exmar group. The facility ...

France >>  8/3/2022 - Alternative data specialist QuantCube Technology announced the availability of the QuantCube Liquefied Natural Gas (LNG) Commodity Trade Indicator. By...
Canada >>  7/29/2022 - Pacific Energy Corporation Limited (Pacific Energy) and Enbridge Inc. (Enbridge or the Company) announced an agreement to jointly invest in the constr...

Italy >>  7/25/2022 - - The aim is to leverage on infrastructure and know-how of both companies, thereby contributing to decarbonisation of transport and off-grid users
United States >>  7/23/2022 - ION Commodities, the global leader in Energy and Commodity management solutions, is delighted that Golden Pass LNG, owned by affiliates of QatarEnergy...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.