Regional LNG: Release: LNG sale and purchase agreement signed with Kansai Electric
Wednesday, July 28 2004 - 10:49 AM WIB
The agreement is for the supply and purchase of 0.5 million tons of LNG a year between 2009 and 2014 and 0.925 million tons of LNG a year between 2015 and 2023.
The sale and purchase agreement formalises a heads of agreement signed in September 2003 between the NWS Venture LNG Sellers and The Kansai Electric Power Company, Inc.
North West Shelf Australia LNG President John Banner said that the NWS Venture was delighted to continue its business relationship with Kansai Electric.
"Kansai Electric is an original customer of the NWS Venture and we are very pleased to have signed this agreement in what is a milestone year for the NWS Venture," Mr Banner said.
"2004 marks 15 years of LNG supply, as well as the completion of a major expansion of our LNG production facilities, including a fourth LNG train, a second offshore trunkline and a ninth LNG ship.
Today?s agreement reflects the long-term commitment and support from the NWS Venture?s Japanese customers and a business relationship with Kansai Electric that will span 35 years."
The Kansai Electric Power Company is Japan?s second biggest power company and provides electricity to 13 million customers in Japan's Kansai region. The utility has a generating capacity of nearly 35,000 MW, which is produced by three nuclear plants, 12 fossil-fuelled plants, and 145 hydroelectric plants.
The six equal participants in the North West Shelf Venture are: Woodside Energy Ltd. (operator); BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; ChevronTexaco Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; and Shell Development (Australia) Pty. Ltd. (end of release)
Source: Woodside Petroleum Ltd