Business Services Industry
$10bn Chubu deal lifts Gorgon.
Australasian Business Intelligence, November, 2005
Byline: Ian Howarth
Nov 22, 2005 (The Australian Financial Review - ABIX via COMTEX) -- An agreement with Japan's Chubu Electric Power Company has given the Gorgon liquefied natural gas (LNG) project a boost. The $A11 billion Western Australian project now has sold more than half of its planned annual output, and Chubu is in talks to take an equity stake in the project. Chubu has
agreed to purchase 1.5 million tonnes of LNG per year between 2010 and 2035. The deal is worth $A10 billion. The Gorgon project is 50 owned by Chevron, while Shell and ExxonMobil each hold a 25 per cent stake. The project is expected to produce 10 million tonnes of LNG per year, with 2.5 million...
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