• 6 minutes U.S. Shale Oil Debt: Deep the Denial
  • 12 minutes Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 17 minutes WTI @ $75.75, headed for $64 - 67
  • 1 min Trump vs. MbS
  • 4 hours Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 35 mins Why I Think Natural Gas is the Logical Future of Energy
  • 1 hour Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 6 hours Get on Those Bicycles to Save the World
  • 1 day The Dirt on Clean Electric Cars
  • 12 hours Can “Renewables” Dent the World’s need for Electricity?
  • 2 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 1 day Owning stocks long-term low risk?
  • 15 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 3 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 6 hours Can the World Survive without Saudi Oil?
  • 12 hours Satellite Moons to Replace Streetlamps?!
Alt Text

Trump Insiders Ramp Up Rhetoric Against Russian Energy

Trump insiders, including hawkish chief…

Alt Text

Russia To Resume Gas Imports From Turkmenistan

According to Aleksei Miller, Gazprom’s…

Alt Text

China Blinks First In LNG Face-Off With U.S.

China’s latest tariff strategy involving…

Jen Alic

Jen Alic

 

More Info

Trending Discussions

Chevron Lands Million-Ton LNG Futures Buy in Australia

Chevron has announced that Chubu Electric Power Co. of Japan has signed a binding agreement to purchase 1 million tons of LNG annually from the Wheatstone project in Australia for up to 20 years.

Wheatstone is a joint venture owned by Chevron (64.14%), Apache Energy Ltd. (13%), Kuwait Petroleum Corp. (7%), Royal Dutch Shell Plc. (6.4%), Kyushu Electric Power Co. (1.64%) and PE Wheatstone Pty Ltd., which is partly owned by Tokyo Electric. The Chevron-operated Wheatstone project, in Western Australia, will eventually have an 8.9 million-ton annual LNG capacity with two LNG trains and a gas plant. Wheatstone will begin supplying LNG in 2016. 

Related article: LNG Exports Threaten High Gas Prices in the US as Shale Production Slows

The deal means that more than 80% of Chevron’s equity LNG from Wheatstone is already covered under long-term purchase agreements with Asian customers. It also signals that the Wheatstone project has solidly demonstrated its geographical status and market capacity to supply Asia customers.

Chevron (NYSE: CVX) is very well-positioned here. Overall, it holds an 80.17% equity interest in Wheatstone, as well as in the fields that provide 80% of the project’s gas. 

Japan—the world’s largest LNG importer—bought 87.3 million tons of LNG last year alone, with its utilities boosting demand for thermal power generation in the wake of Fukushima.

By. Jen Alic of Oilprice.com


x


Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News