Australia-based Woodside Petroleum has signed a multi-billion dollar export deal with Tokyo Gas and Kansai Electric of Japan for the sale of liquefied natural gas.
The agreement provides for the supply of up to 3.75 million tons per annum of LNG to Tokyo Gas and Kansai Electric for 15 years, beginning in 2010. The LNG will be supplied from Woodside’s Pluto LNG project. The project is subject to receipt of final environmental and other regulatory approvals.
The parties also signed agreements to formalize Tokyo Gas and Kansai Electric taking equity in the Pluto project. Tokyo Gas and Kansai Electric will each take 5% equity in the Pluto permit and the Pluto Train 1 infrastructure, reducing Woodside’s interest to 90%.
Woodside’s chief executive, Don Voelte, said that the agreements were a formal acknowledgement of the special relationship between Woodside and its Japanese customers.
We are proud to have Tokyo Gas and Kansai Electric as our partners in Pluto, Mr Voelte added.