LNG (LIQUIFIED NATURAL GAS)

Two Japanese LNG renewals for NWSV

THE North West Shelf Venture says it has signed two heads of agreements with Japanese utility fir...

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Operator Woodside yesterday said Tokyo Electric Power was yet another of the NWSV’s original Japanese LNG customers to renew its long-term supply needs this year.

The eight-year deal is for the supply of five cargoes of LNG a year, about 300,000 tonnes per annum, on ex-ship basis, and will begin April 2009.

Tokyo Electric Power is the largest power utility and largest consumer of LNG in Japan, serving more than 27 million customers in and around the Tokyo area.

It is a longstanding customer of the NWSV, having signed a contract in 1985 that ends March 2009.

Another longstanding customer, Osaka Gas, also renewed its contract yesterday.

Under the six-year deal, Osaka Gas will be supplied with about 500,000tpa, also beginning in April 2009.

Osaka Gas is the Japan’s second-largest gas company serving 6.8 million customers in the Kansai region, representing 27% of Japan’s city gas market.

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).

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