North West Shelf Venture and Kogas Extend LNG Deal



The North West Shelf Venture participants and Korea Gas Corporation have signed an LNG sale and purchase agreement for the ongoing supply of liquefied natural gas from Australia's largest resources project.

In a deal starting in April 2009, the North West Shelf Venture will supply Kogas with up to 0.5 million tonnes a year of LNG for seven years on a delivered basis.

Kogas is an important customer of the North West Shelf, having signed a contract in 2003 that ends in March 2010. This sale and purchase agreement amends and extends the initial contract.

The six equal participants in the North West Shelf 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%).

CNOOC NWS Private Limited is also a member of the North West Shelf Venture but is not a party to this agreement.

RELATED COMPANIES
Company: BHP Billiton more info
Operates 1 Offshore Rigs
 - Private Oil Made a Big Find in Mexico. Now State Oil Wants a Cut (Oct 04)
 - BHP Gearing Up to Start Drilling for Oil in Mexico's Deep Waters (Oct 02)
 - BHP To Quit US Shale Business As Annual Profit Surges (Aug 22)
Company: BP plc more info
Operates 33 Offshore Rigs
 - Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
 - Owners of Louisiana-Illinois Pipeline Eye Reversal Next Steps (Dec 21)
 - Canadian Offshore Oil Interest Grows As Pipeline Woes Sink Alberta Prices (Dec 20)
Company: Shell more info
Operates 30 Offshore Rigs
 - UK Firm Intertek Says Employee Involved in Shell Oil Theft Case (Jan 17)
 - Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
 - API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
Company: Woodside more info
Operates 3 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: Chevron Corporation more info
 - CB&I, Chevron Lummus Global, Saudi Aramco Launch 'Crude-to-Chemical' JV (Jan 18)
 - Oil Producers Want New Hearing on Impact of Magellan Proposal (Jan 17)
 - Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
Company: CNOOC more info
 - ExxonMobil Reports More Offshore Guyana Success (Jan 05)
 - CNOOC 3Q Revenue Rises; Only Halfway To 2017 Spending Goal (Oct 25)
 - CNOOC Completes Test Runs at Huizhou Refinery in Guangdong - Report (Oct 09)
Company: Japan Australia more info
 - Australia's Browse FLNG JV Decides Not to Proceed with Development (Mar 23)
 - 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)
Company: North West Shelf Australia LNG more info
 - North West Shelf Increases LNG Supplies to Tohoku (Dec 04)
 - HMC Returning to Australian Waters (Nov 28)
 - CNOOC Boosts Q1 Production (Apr 26)
Company: Korea Gas Co. more info
 - CEO: Total Delivers First LNG Cargo from Australian Gladstone Project (Oct 15)
 - KOGAS Says Its CEO To Tender His Resignation On Monday (Jan 11)
 - KNOC Seeking to Invest in US Shale Gas (Jul 11)
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.