Woodside today said under the deal, the NWSV will increase LNG quantities under an existing agreement, convert that agreement from a loaded basis to an ex-ship basis and supply a new quantity of LNG on an ex-ship basis.

The net effect of these elements is to increase the supply of LNG by about 500,000 tonnes a year starting in 2010 for eight years, it said.

Total NWSV LNG sales to Tohoku Electric will now be about 1 million tonnes a year from 2010.

The six equal participants in the NWSV are operator Woodside (16.67%), BHP Billiton (16.67%), BP Developments (16.67%), Chevron Australia (16.67%), Japan Australia LNG (16.67%), and Shell Development Australia (16.67%).

CNOOC NWS Private is also a member of the NWSV but does not have an interest in NWSV infrastructure.