Chevron Inks $60B In LNG Deals For Gorgon Project

Law360, New York (September 10, 2009, 12:24 PM EDT) -- Chevron Corp.'s Australian arm has locked down long-term sales and purchase agreements with three Asian companies to provide 3 million tons per year of liquefied natural gas from the energy giant's stake in the massive $50 billion Gorgon development off of Barrow Island in Australia.

The deals, announced by Chevron on Wednesday, will supply LNG to three Japanese and South Korean companies for as long as 25 years, as well as turn over small slices of Chevron's 50 percent equity in the Gorgon project.

Chevron did...
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