Kansai Electric sign LNG agreement with NWSV

The North West Shelf Venture participant companies and Kansai Electric of Japan have signed a Heads of Agreement for the ongoing supply of liquefied natural gas from Australia's largest resources project.

Kansai Electric is the fourth of the North West Shelf Venture's original Japanese LNG customers to renew its long-term LNG supply requirements this year.

In an eight-year deal commencing in April 2009, the North West Shelf Venture will supply an average of around 0.4 million tonnes a year to Kansai Electric on an ex-ship basis.

Kansai Electric is Japan's second largest power utility and the fifth largest consumer of LNG. Kansai's service area, centred around Osaka, is home to about 21 million and accounts for 16 per cent of Japan's GDP.

Kansai Electric is a long standing customer of NWSV, having signed an original contract in 1985 that ends in March 2009.