North West Shelf Expands LNG Sales to Chubu Electric

Chubu Electric Power Company, Incorporated and the six participants in the North West Shelf Venture today signed a binding heads of agreement for the supply of over 24 trillion British thermal units, amounting to just less than 0.5 million tons, of LNG a year starting in April 2009 for seven years. This agreement expands the North West Shelf LNG sales to Chubu Electric to over 1 million tons a year from 2009.

North West Shelf Australia LNG President Peter Cleary welcomed today's signing of a heads of agreement between Chubu Electric Power Company, Incorporated and the Venture.

"Chubu Electric is a long-term and highly valued customer of the North West Shelf Venture," Mr. Cleary said.

"We are extremely pleased to further enhance our long-term business relationship and friendship with Chubu Electric which now extends more than 17 years."

The six equal participants in the North West Shelf Venture are: BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; Chevron Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; Shell Development (Australia) Proprietary Limited; and Woodside Energy Ltd (Operator).

CNOOC NWS Private Limited is also a member of the North West Shelf Venture but does not have an interest in North West Shelf Venture infrastructure.