NORTH WEST SHELF EXPANDS LNG SALES TO KANSAI ELECTRIC
9 November, 2006
A new liquefied natural gas supply agreement with a long-term Japanese customer further confirms growing market interest in safe, secure and reliable supplies of LNG from the North West Shelf Venture, according to North West Shelf Australia LNG.
Kansai Electric Power Company, Incorporated and the six participants in the North West Shelf Venture today signed a binding heads of agreement for the supply of an average of around 0.4 million tonnes of LNG a year starting in April 2009 for eight years. This agreement increases the North West Shelf LNG sales to Kansai Electric to one million tonnes a year from 2009.
North West Shelf Australia LNG President Peter Cleary welcomed today's signing of a heads of agreement between Kansai Electric Power Company, Incorporated and each North West Shelf seller.
"Kansai Electric is Japan's second largest power utility and has been a major customer of the North West Shelf Venture since 1989," Mr Cleary said.
"The North West Shelf Venture highly values its long-standing business relationship and friendship with its Japanese customers and we are delighted that Kansai Electric has reaffirmed this through the additional purchase of LNG."
The six equal participants in the North West Shelf Venture are: BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; Chevron Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; Shell Development (Australia) Proprietary Limited; and Woodside Energy Ltd (Operator).
CNOOC NWS Private Limited is also a member of the North West Shelf Venture but does not have an interest in North West Shelf Venture infrastructure.
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