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Under the seven year deal, the $14 billion West Australia-based NWSV will supply over 24 trillion British thermal units of liquid natural gas - almost 500,000 tonnes - a year to Chubu Electric on an ex-ship basis.
Chubu Electric is Japan’s third largest power utility and the second largest consumer of LNG. Its service area around Nagoya is home to more than 15 million people and accounts for over 20% of Japan’s total industrial output.
It is the third of the NWSV's original Japanese LNG customers to renew its long-term LNG supply requirements this year.
Chubu Electric is one of the venture's long-standing customers, having signed a foundation contract in 1985 that ends in March 2009.
Each year the North West Shelf produces more than 7.5 million tonnes of LNG, the bulk of which goes to Japanese customers under long-term contractual agreements.
The six equal participants in the NWSV are Woodside Energy (operator); BHP Billiton (North West Shelf); BP Developments Australia; Chevron Australia; Japan Australia LNG (MIMI); and Shell Development (Australia).
