Tepco To Buy More Of $29B Chevron Project's LNG Output

Law360, New York (June 18, 2012, 4:36 PM EDT) -- Tokyo Electric Power Co., one of the largest utilities in the world, upped its purchase order from Chevron Corp.'s $29 billion Wheatstone liquefied natural gas project Monday, signaling continued Japanese demand for new sources of fuel in the wake of last year's earthquake and ensuing nuclear disaster.

Tepco will boost its offtake from the Australian project from 3.1 million to 4.2 million metric tons per year for up to 20 years, according to parallel statements from the parties.

The Japanese utility will also acquire a 10...
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