CHEVRON, the largest partner in the $11 billion Gorgon gas project in the state’s north-west, has secured a major supply deal to sell 1.5 million tonnes of liquefied natural gas a year to Japanese group Chubu Electric. Under the heads of agreement, Chubu will take delivery of Chevron’s share of Gorgon LNG for 25 years, commencing in 2010. The parties are also discussing the potential sale and purchase of an equity interest in the Gorgon project, however, the price of the supply agreement was not disclosed. Chevron Australia holds a 50 per cent interest in the Gorgon project, with the Australian subsidiaries of Shell and ExxonMobil each holding 25 per cent.
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