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Chevron seals business negotiations with Tepco

Chevron will be delivering 3.1 million tons of LNG annually to Tepco.

27 July 2011

Leading integrated energy company Chevron has signed binding sales and purchase agreements with Tokyo Electric Power Company (Tepco).

With business negotiations completed on the deal, liquefied natural gas (LNG) will now be provided from the Chevron-operated Wheatstone natural gas scheme in Australia to Tepco.

Some 3.1 million tons of LNG will be delivered annually for the next 20 years under the terms of the arrangement.

John Gass, president of Chevron Gas and Midstream, noted that Tepco is among "the world's leading LNG customers".

"Its support for Chevron's Wheatstone Project reinforces the strength of the relationship between the two companies that has been built up over many years," he added.

Chevron, which is based in San Ramon, California, is involved in a number of different areas of the energy market and was established in 1879.

The Wheatstone Project is set to produce up to 8.9 million tons per annum after the foundation stager has been completed.

Posted by David Gleck

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