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 Chevron has announced that it has agreed deals with three major Asian gas importers, worth a total of US$60 billion, to sell almost 3 million tonnes per annum of liquefied natural gas (LNG) from the Gorgon project in Australia.
Reuters reported that the US supermajor would sell 1.375 million metric tonnes per annum (mtpa) to Osaka Gas from Japan, 1.1 million mtpa to Tokyo Gas and 0.5 million mtpa to South Korean company GS Caltex. All three export deals will be spread over 25 years.
As part of the deal Chevron also agreed to sell 1.25% and 1% stake of Gorgon to Osaka Gas and Tokyo Gas respectively. The sale would leave Chevron holding a 47.75% stake in the Australian mega project.
Chevron, ExxonMobil and Royal Dutch Shell are the three joint venture partners behind the $42 billion project. Although it is a joint venture each company will sell its share of the gas independently from the others.
Last month it was reported that ExxonMobil had agreed a deal with PetroChina to sell 2.25 million mtpa of gas from Gorgon for 20 years, a deal believed to be worth around $50 billion.
A final investment decision is expected to be made by the three companies in the near future.
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