SYDNEY (XFN-ASIA) - The North West Shelf liquefied natural gas (LNG) project partners have signed a contract with Japan's Tohoku Electric to double sales of LNG to the Japanese utility, said project operator Woodside Petroleum Ltd.
Woodside, 34 pct owned by the Royal Dutch Shell group, said in a statement released late on Friday that the contract will see the venture increase LNG shipments to Tohoku by about 0.5 mln metric tons to 1 mln tons a year starting in 2010 for eight years.
Financial terms were not disclosed.
Tohoku, Japan's fourth-biggest utility by revenues, has the largest service area in Japan and has a customer base of over 12 mln.
The six equal partners in the North West Shelf joint venture are Woodside, BHP Billiton, Chevron Corp, BP Plc, Japan Australia LNG (MiMi) Pty Ltd -- a joint venture of Mitsubishi Corp and Mitsui & Co -- and Royal Dutch Shell Plc.
bruce.hextall@xfn.com
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Woodside, 34 pct owned by the Royal Dutch Shell group, said in a statement released late on Friday that the contract will see the venture increase LNG shipments to Tohoku by about 0.5 mln metric tons to 1 mln tons a year starting in 2010 for eight years.
Financial terms were not disclosed.
Tohoku, Japan's fourth-biggest utility by revenues, has the largest service area in Japan and has a customer base of over 12 mln.
The six equal partners in the North West Shelf joint venture are Woodside, BHP Billiton, Chevron Corp, BP Plc, Japan Australia LNG (MiMi) Pty Ltd -- a joint venture of Mitsubishi Corp and Mitsui & Co -- and Royal Dutch Shell Plc.
bruce.hextall@xfn.com
blh/mas