Chevron, Chubu Sign Wheatstone LNG Agreement

Chevron Corporation announced Tuesday that its Australian subsidiaries have signed a non-binding Heads of Agreement (HOA) with Chubu Electric Power Company Incorporated for the delivery of liquefied natural gas (LNG) from the Chevron-operated Wheatstone natural gas project in Australia.

Under the agreement, Chevron, together with Apache Energy and KUFPEC, is expected to deliver 1 million tons per annum (MTPA) of LNG to Chubu for up to 20 years.

The Chevron-operated Wheatstone Project will become one of Australia's largest resource projects. The foundation phase of the project will consist of two liquefied natural gas trains with a combined capacity of 8.9 MTPA and a domestic gas plant.