Japan Enters 20-Year LNG Supply With Chevron

From International Business Times

by Esther Tanquintic-Misa

Japan, already without nuclear power supply, has signed a 20-year supply arrangement with U.S. oil company Chevron Corp for the latter’s $29 billion Australian Wheatstone liquefied natural gas (LNG) project.

Chevron, along with partners Apache and the Kuwait Foreign Petroleum Exploration Co, will supply Japan’s Tohoku Electric Power Co Inc of 900,000 metric tonnes per annum or mtpa of LNG for up to two decades.

“These agreements [with Tohoku Electric], combined with our ongoing exploration success, demonstrate that our Wheatstone and Gorgon projects in Australia are well-placed to meet the growing demand for natural gas in the Asia-Pacific region,” Roy Krzywosinski, Chevron Australia managing director, said in a statement.

Japan used to rely heavily on nuclear power which provided 30 per cent of the country’s energy mix prior to the March 2011 earthquake and tsunami that largely crippled the Fukushima nuclear power plant facility. All of the country’s 50 nuclear power supply reactors are currently offline due to maintenance checks and the public’s heavy protest to have them re-operated.

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