Chevron signs $18bn North West Shelf natural gas deal with Japanese utility  

Posted by Big Gav in , , , , ,

The Australian reports that Chevron are continuing their run of success selling LNG from the north west shelf - Chevron signs $18bn North West Shelf natural gas deal with Japanese utility.

US oil major Chevron continues to pull in more deals and equity partners in its two big West Australian liquefied natural gas projects, announcing it has agreed to sell LNG potentially worth $18 billion to Japan's Kyushu Electric over the next 20 years in two separate deals.

The two heads of agreements announced yesterday come as Queensland's LNG hopefuls, who want to export coal seam gas through Gladstone, have struggled to lock in buyers for projects they hope to approve this year.

Chevron says Kyushu has agreed to buy 300,000 tonnes of LNG a year for 15 years from the recently started $43bn Gorgon project on Barrow Island.

The power utility also agreed to take 700,000 tonnes of LNG a year for 20 years from the yet-to-be approved Wheatstone project planned for Onslow.

"The agreements with Kyushu Electric further demonstrate our ability to attract large and experienced LNG buyers as we develop these two legacy gas projects in Australia," Chevron Asia-Pacific exploration and production president Jim Blackwell said

On top of the gas sales, Kyushu, which is a customer of the Woodside-operated North West Shelf LNG plant, has agreed to take an equity stake in Wheatstone.

Reuters reports that on the other side of the country, Arrow has made a large upwrd revision to their coal seam gas reserves - Arrow upgrades gas reserves, eyes LNG opportunities. More at Gas Today.
Australian coal seam gas firm Arrow Energy Ltd (AOE.AX) sharply raised its gas reserves and said that the increase would help boost its ability to supply gas to more liquefied natural gas (LNG) projects.

Arrow, a coal seam gas supplier of Royal Dutch Shell (RDSa.L) in Australia, said it may be able to add up to 1.5 trillion cubic feet (tcf) of gas reserves per year to its gross proved and probable (2P) reserves over the next three years, up from an earlier goal of 1 tcf per year.

The firm's 2P reserves, defined by the industry as having 50 percent chance of recovery, jumped by 50.3 percent from a year ago to 6,150 petajoules (PJ), while reserves by the widest estimate increased by 18.6 percent to 11,042 PJ.

"This acceleration of reserves additions will ensure that we are well placed for future commitments to further growth opportunities in the domestic market, the Fisherman's Landing project or (Shell's proposed) Curtis Island," Arrow's Managing Director Nick Davies said in a statement.

Total uncontracted 2P gas reserves from its operated tenements now stand at 5,379 PJ, the firm said.

1 comments

Learn more about European shale plays at the blog http://realm-energy.com

Post a Comment

Statistics

Locations of visitors to this page

blogspot visitor
Stat Counter

Total Pageviews

Ads

Books

Followers

Blog Archive

Labels

australia (607) global warming (393) solar power (376) peak oil (343) renewable energy (253) electric vehicles (221) wind power (184) ocean energy (163) csp (156) geothermal energy (144) solar thermal power (143) smart grids (139) tidal power (137) coal seam gas (130) oil (129) solar pv (127) nuclear power (126) energy storage (125) lng (116) china (113) geothermal power (112) iraq (112) green buildings (109) natural gas (108) agriculture (88) oil price (79) biofuel (78) smart meters (72) wave power (71) uk (68) electricity grid (67) energy efficiency (63) coal (61) google (57) bicycle (51) internet (51) shale gas (49) surveillance (49) food prices (48) big brother (47) thin film solar (42) canada (40) biomimicry (39) scotland (38) ocean power (37) politics (37) tesla (37) shale oil (36) new zealand (35) air transport (34) algae (34) water (34) concentrating solar power (32) queensland (32) saudi arabia (32) california (31) credit crunch (31) bioplastic (30) offshore wind power (30) arctic ice (29) population (29) cogeneration (28) geoengineering (28) batteries (26) drought (26) resource wars (26) woodside (26) bruce sterling (25) censorship (25) cleantech (25) ctl (23) economics (22) limits to growth (22) carbon tax (20) coal to liquids (20) distributed manufacturing (20) indonesia (20) iraq oil law (20) lithium (20) origin energy (20) brightsource (19) buckminster fuller (19) rail transport (19) ultracapacitor (19) exxon (18) santos (18) ausra (17) michael klare (17) atlantis (16) cellulosic ethanol (16) collapse (16) electric bikes (16) iceland (16) mapping (16) ucg (16) bees (15) concentrating solar thermal power (15) ethanol (15) geodynamics (15) psychology (15) brazil (14) fertiliser (14) lithium ion batteries (14) al gore (13) ambient energy (13) biodiesel (13) bucky fuller (13) carbon emissions (13) cities (13) investment (13) kenya (13) matthew simmons (13) public transport (13) biochar (12) chile (12) desertec (12) internet of things (12) otec (12) texas (12) victoria (12) cradle to cradle (11) energy policy (11) hybrid car (11) terra preta (11) toyota (11) amory lovins (10) fabber (10) gazprom (10) goldman sachs (10) gtl (10) severn estuary (10) tinfoil (10) volt (10) afghanistan (9) alaska (9) antarctica (9) biomass (9) carbon trading (9) distributed generation (9) esolar (9) four day week (9) fuel cells (9) jeremy leggett (9) pge (9) sweden (9) arrow energy (8) big oil (8) eroei (8) fish (8) floating offshore wind power (8) guerilla gardening (8) linc energy (8) methane (8) methane hydrates (8) nanosolar (8) natural gas pipelines (8) pentland firth (8) relocalisation (8) saul griffith (8) stirling engine (8) us elections (8) western australia (8) airborne wind turbines (7) bloom energy (7) boeing (7) bolivia (7) chp (7) climategate (7) copenhagen (7) vinod khosla (7) apocaphilia (6) ceramic fuel cells (6) cigs (6) futurism (6) jatropha (6) local currencies (6) nigeria (6) ocean acidification (6) scenario planning (6) somalia (6) t boone pickens (6) space based solar power (5) varanus island (5) garbage (4) global energy grid (4) kevin kelly (4) low temperature geothermal power (4) oled (4) tim flannery (4) v2g (4) club of rome (3) norman borlaug (2) peak oil portfolio (1)