Chevron, JX Nippon Sign Gorgon SPA
|Tuesday, May 10, 2011
Chevron Corporation has signed a Sales and Purchase Agreement with JX Nippon Oil and Energy Corporation for a portion of Chevron’s offtake of LNG from the Gorgon project. Under the binding agreement, JX Nippon Oil and Energy will receive .3 million tons per annum (MTPA) of LNG for 15 years.
Gorgon is under development and slated to commence production in 2014. The development is located about 43 to 87 miles (70 to 140 kilometers) off the northwestern coast of Western Australia. Chevron is the operator of the project, holding a 47% interest.
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