Chevron has signed binding sales and purchase agreements with Tokyo Electric Power Company for LNG from its grassroots A$25 billion (US$27.2 billion) Wheatstone project in Australia.
The US supermajor and partners Apache Energy and Kufpec will supply up to 3.1 million tonnes per annum to Tepco for 20 years. The Japanese utility is also negotiating to buy equity in the feedstock fields and a percentage of Chevron’s interest in the downstream processing facilities.
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