Chevron and Kyushu Electric Sign Wheatstone LNG Sales Agreements

Chevron Corporation CVX yesterday announced that its Australian subsidiaries have signed a Sale and Purchase Agreement with Kyushu Electric Power Co. for the delivery of liquefied natural gas from the Wheatstone Project in Western Australia. Under the binding agreement, Chevron, together with Apache and Kufpec, will deliver up to 0.7 million tons per annum of LNG to Kyushu Electric for up to 20 years. Kyushu Electric will also acquire 1.83 percent of Chevron's equity share in the Wheatstone field licenses and a 1.46 percent interest in the Wheatstone natural gas processing facilities to be developed onshore near Onslow. Including the equity participation volume, Kyushu Electric will take delivery of 0.8 MTPA of LNG from the Wheatstone Project.