Plus   Neg

Apache, Partners Sign Deal To Sell LNG From Wheatstone To Chubu Electric Power

Apache Corp. (APA) said an Apache Australian subsidiary and its partners have agreed to sell liquefied natural gas from the Chevron-operated Wheatstone Project in Western Australia to Chubu Electric Power Company Inc.

The Wheatstone partners and Chubu signed a heads of agreement to supply 1 million metric tons per annum, or MTpa, of LNG for up to 20 years. Through its 13-percent share in Wheatstone, Apache Julimar Pty Ltd, an Apache subsidiary, will supply 0.13 MTpa to Chubu, or approximately 19 million cubic feet of natural gas per day.

The foundation phase of the project will include two LNG trains with a combined capacity of 8.9 MTpa and a domestic gas plant.

Apache Julimar Pty Ltd and KUFPEC Australia (Julimar) Pty Ltd, a subsidiary of Kuwait Foreign Petroleum Co., will supply gas produced from the Julimar and Brunello fields, large gas accumulations discovered in 2007. Apache has a 65-percent interest in the upstream Julimar Development Project and is the operator.

The heads of agreement is subject to completion of a binding LNG sales agreement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Taco Bell, the Mexican fast-food chain owned by Yum Brands Inc. (YUM), Thursday said it will start selling tortilla chips in grocery and convenience stores starting May. The chips will be available in Fire and Mild sauce packet flavors and also in a Classic flavor. "This launch of our first line... Meredith Corp. said Wednesday that it has decided to explore the sale of its Time, Sports Illustrated, Fortune, and Money brands. In addition, the company will cut 1,000 jobs over the next ten months as part of its plan to realize cost synergies from its acquisition of Time Inc. Further, Meredith has notified about 200 employees that their positions have been eliminated. Canadian integrated oil company Cenovus Energy Inc. said Thursday that the critical shortage of export pipeline capacity in Western Canada is having a negative impact on the Canadian oil industry and showed the urgent need for approved pipeline projects in Canada to proceed as soon as possible. The company noted that Canadian heavy oil is selling at a wide discount to West Texas Intermediate.
comments powered by Disqus
Follow RTT