NWS Venture, Tohoku Electric Sign LNG Heads of Deal

The North West Shelf Venture participant companies and Tohoku Electric of Japan have signed a heads of agreement for the ongoing supply of liquefied natural gas from Australia's largest resources project.

In a multi-part deal commencing in April 2010, the North West Shelf Venture will:

--increase LNG quantities under an existing agreement
--convert that agreement from a loaded basis to an ex-ship basis
--supply a new quantity of LNG on an ex-ship basis

The net effect of these elements is to increase the supply of LNG by about 0.5 million tonnes a year starting in 2010 for eight years. Total North West Shelf Venture LNG sales to Tohoku Electric will now be about 1 million tonnes a year from 2010.

The six equal participants in the NWS Venture are: Woodside Energy Ltd. (16.67% and operator); BHP Billiton Petroleum (North West Shelf) Pty Ltd (16.67%); BP Developments Australia Pty Ltd (16.67%); Chevron Australia Pty Ltd (16.67%); Japan Australia LNG (MIMI) Pty Ltd (16.67%); and Shell Development (Australia) Proprietary Limited (16.67%).

Related Companies
 Company: BHP Billitonmore info


 - BHP Is 'Very Anxious' U.S. Protectionism Could Blunt Growth (Feb 27)
 - BHP Billiton Named as Pemex's First Deepwater Oil Partner (Dec 5)
 - GTI, BHP Billiton Partner on Permian Fracturing Test (Oct 26)
 Company: BP plcmore info


 - Unite Expresses Concern Over Possible Forties Pipeline System Sale (Mar 17)
 - BP Appoints New Heads Of Production, Drilling As Output Set To Jump (Mar 16)
 - Wood Group Wins Mad Dog 2 Contracts (Mar 14)
 Company: Shellmore info


 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 Company: Woodsidemore info


 - Woodside Flags Growth Options After Tough Year (Feb 22)
 - Australia, East Timor Aim To Agree Maritime Border By Sept (Jan 24)
 - Subsea 7 Secures Services Contract with Woodside Energy (Dec 2)
 Company: Chevron Corporationmore info
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 - Oil Giants Upending Shale Turf Where Wildcat Drillers Once Ruled (Mar 21)
 Company: CNOOCmore info
 - US Reversal On Transparency Could Sting Canadian, European Oil Companies (Feb 3)
 - China's Oil Majors Set To Lift CAPEX For First Time In Years (Jan 26)
 - China To Tender More Xinjiang Oil, Gas Blocks To Non-State Firms (Jan 23)
 Company: Japan Australiamore info
 - NWS JV to Develop $2B Greater Western Flank Phase 2 Project Off Australia (Dec 11)
 - NWS JV to Develop $1B Persephone Project Off Northwest Australia (Nov 27)
 - Japan Australia LNG Terminates Purchase Deal with Woodside for Browse LNG (Jan 2)
 Company: North West Shelf Australia LNGmore info
 - North West Shelf Increases LNG Supplies to Tohoku (Dec 4)
 - HMC Returning to Australian Waters (Nov 28)
 - CNOOC Boosts Q1 Production (Apr 26)
 Company: Tohoku Electricmore info
 - Inpex Completes Transfer of 6% Interest in Ichthys LNG to Total (Mar 1)
 - NWS Venture, Tohoku Electric Sign LNG Heads of Deal (Mar 16)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Pressure Equipment Integrity Engineer
Expertise: Chemical Engineering|Mechanical Engineering|Process Engineer
Location: Norco, LA
 
United States Oklahoma City: Electrical/Mechanical Technician II
Expertise: Mechanical Technician|Rig Mechanic
Location: Oklahoma City, OK
 
Solids Control Technicians - Bakken Region
Expertise: Electrical Technician|Mechanical Technician
Location: Williston, ND
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours