SOURCE: Industrial Info Resources

December 10, 2009 05:00 ET

Japan's TEPCO Signs $82.5 Billion Deal for LNG Supplies From Chevron's Wheatstone Project, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - December 10, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The Tokyo Electric Power Company Incorporated (TYO:9501) (TEPCO) (Tokyo, Japan) will purchase 4.1 million tons per year of liquefied natural gas (LNG) from the Wheatstone project of Chevron Corporation (NYSE:CVX) (San Ramon, California), which is located in the Pilbara region of Western Australia. TEPCO recently signed an $82.5 billion deal with Chevron for 3.1 million tons per year of sustained LNG supply for 20 years. The TEPCO-Chevron contract is considered to be the biggest in the LNG sector in Australia and has topped the $45.6 billion contract signed by Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) with PetroChina Company Limited (NYSE:PTR) (Beijing, China) to supply 2.25 million tons per year of LNG from the Gorgon gas fields for 20 years.

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