NORTH WEST SHELF LNG VENTURE SIGN SALES AND PURCHASE AGREEMENT WITH KANSAI ELECTRIC
16 March, 2009
Further to its news release on 9 November 2006, the North West Shelf LNG Venture sellers confirm that following the signing of a binding Heads of Agreement on 9 November 2006, a Sales and Purchase Agreement (SPA) has now been executed with Kansai Electric Power Company Inc. for the supply of 3.3 million tonnes of LNG over an eight year period starting in 2009.
With the signing of this agreement the North West Shelf LNG Venture sales to Kansai Electric will total approximately one million tonnes a year after 2009.
North West Shelf Australia LNG President Peter Cleary welcomed the completion of the SPA between Kansai Electric and each North West Shelf LNG Venture seller.
"The North West Shelf LNG Venture sellers highly value their long-standing business relationship and friendship with their Japanese customers and we are delighted that Kansai Electric, which has been a major customer of ours since 1989, has chosen to continue this relationship through the additional purchase of LNG."
"As previously stated we believe that this confirms growing market interest in the safe, secure and reliable supplies of LNG from the North West Shelf," Mr Cleary said.
The six equal participants in the North West Shelf LNG 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) Pty Ltd 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 its infrastructure.
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