Australia's North West Shelf venture signs LNG gas deal with Korea Gas |
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Fri, 19 Jan 2007 00:26
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SYDNEY (XFN-ASIA) - Woodside Petroleum Ltd, the operator of Australia's North West Shelf liquefied natural gas project, said the venture partners have signed an LNG sale and purchase agreement for the ongoing supply of liquefied natural gas to Korea Gas Corp.The company, 34 pct owned by the Royal Dutch Shell group, said in a deal starting in April 2009, the North West Shelf Venture will supply Kogas with up to 0.5 mln metric tons a year of LNG for seven years on a delivered basis.It said Kogas is an important customer of the North West Shelf having signed a contract in 2003 that ends in March 2010.The new sale and purchase agreement amends and extends the initial contract.Terms of the agreement were not disclosed.The six equal participants in the NWS venture, all with 16.67 pct stakes, are Woodside, BHP Billiton Petroleum, BP, Chevron Corp, Royal Dutch Shell group, and Japan Australia LNG (MIMI) Pty Ltd, comprising Mitsui and Mitsubishi Corp.China's CNOOC is also a member of the North West Shelf Venture but is not a party to these agreements.bruce.hextall@xfn.com
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