Chevron (NYSE:CVX) Agrees to Sell 3M Tonnes Liquefied Natural Gas from Project in Australia

U.S. oil firm Chevron (CVX) announced that it would sell Osaka Gas 1.375M tonnes of LNG a year over 25 years, and Tokyo Gas 1.1M tonnes. Chevron agreed to sell nearly 3M tonnes a year of liquefied natural gas from its Gorgon project in Australia. Per the agreement, Chevron will sell an equity share of 1.25% to Osaka Gas and another 1% to Tokyo Gas, thus reducing Chevron's stake to 47.75 percent.