Pluto gas field to supply Japan with LNG
Posted: 27 March 2006
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Woodside Energy’s wholly owned Pluto gas field in Western Austr alia is to supply LNG to Kansai Electric, one of Japan’s major electricity suppliers.
The heads of agreement signed by both companies will see Woodside supplying 1.75 to two million tonnes of LNG a year over 15 years. Woodside will supply LNG from the end of 2010, on an ex-ship basis, with an option to extend supply by five years. The agreement also provides for Kansai Electric to purchase a 5 per cent equity interest in the Pluto development.
Final agreement is expected by the end of 2006 and will be conditional on a final investment decision by Woodside, which is due in the second quarter of 2007.
Woodside’s Chief Executive Officer, Don Voelte said: “This is the second agreement for Pluto volumes in the past four months. Woodside is delighted to welcome Kansai Electric as a foundation customer for Pluto.”
Kansai Electric has a 20,051 operating revenue exceeding $22 billion. It has more than 35,000 megawatts of electricity generating capacity, and more than 13 million residential, commercial and industrial customers.
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