Chevron Signs Long-Term LNG Sale Deal For $29B Project

Law360, Washington (October 1, 2013, 4:52 PM EDT) -- Chevron Corp. and its partners in the pending $29 billion Australian Wheatstone liquified natural gas project have inked a deal to supply LNG to Japan’s Tohoku Electric Power Co. Inc. for up to two decades, the energy giant announced Tuesday.

Under the terms of the deal, subsidiaries of Chevron, Apache and the Kuwait Foreign Petroleum Exploration Co. — who between them hold approximately 80 percent of the equity in the Wheatstone project — will supply Tohoku with 900,000 tonnes (992,000 tons) of liquified gas annually under...
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