Chevron Signs LNG Deal with Hokkaido Gas
Chevron Corporation (NYSE: CVX) announced Wednesday that its wholly owned subsidiary Chevron U.S.A. Inc. (Singapore Branch) (CUSA) has signed a deal with Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas (LNG) from Chevron’s global LNG portfolio to the Hokkaido area in Japan.
As part of the deal, CUSA will supply Hokkaido Gas with about a half million tons of LNG over a period of five years, starting from April next year, Chevron revealed.
“We are delighted to design and execute a sales and purchase agreement (SPA) with our new partner Hokkaido Gas that will bring Chevron LNG directly to Hokkaido, a key growth area,” John Kuehn, the president of Chevron Global Gas, which is a division of CUSA, said in a company statement posted on Chevron’s website.
“It broadens our customer base in Japan, a market that is foundational to our LNG business. This new SPA represents Chevron’s commitment to collaborate with Hokkaido Gas in diversifying energy solutions and advancing a lower carbon future in the Hokkaido area,” the Chevron representative added in the statement.
Hokkaido Gas is an integrated energy company located in Sapporo, Japan, which provides city gas, electricity, and other energy services in the Hokkaido region. Chevron, which is headquartered in San Ramon, California, describes itself as one of the world's leading integrated energy companies.
According to its website, Chevron has three major capital LNG projects. These comprise the Angola LNG project, the Wheatstone project, and the Gorgon project. Angola LNG is one of the largest energy projects on the African continent and the first LNG project in Angola, Wheatstone is Australia’s first natural gas hub, and Gorgon, which is also based in Australia, is one of the world’s largest natural gas projects, Chevron highlights on its website.
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