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Asia Pulse: NORTH WEST SHELF VENTURE RENEWS LNG CONTRACT

Published: Nov 10, 2006

PERTH, Nov 10 Asia Pulse – Australia’s largest resources project, The North West Shelf Venture (NWSV), has signed a deal with Japan’s Kansai Electric for the ongoing supply of liquefied natural gas.

In an eight-year deal starting April 2009, the $A14 billion ($US10.77 billion) West Australian-based North West Shelf Venture will supply an average 400,000 tonnes per year to Kansai Electric.

NWSV’s six major participants are Woodside Petroleum Ltd, BHP Billiton Ltd; BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd and Shell Development (Australia) Pty Ltd.

Kansai Electric, Japan’s second largest power utility, is the fourth of the NWSV’s original Japanese LNG customers to renew its long-term LNG supply requirements this year.

Kansai Electric’s service area is centred around Osaka, home to about 21 million people.

Kansai Electric is one of the venture’s long-standing customers having signed a foundation contract in 1985 that ends in March 2009.

Each year the North West Shelf produces more than 7.5 million tonnes of LNG, with the majority of sales going to Japanese customers under long-term contractual agreements.

(AAP)

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