Korea Gas to buy Australia's LNG
The Korea Gas Corporation (KOGAS) has signed a 20-year agreement to purchase liquefied natural gas (LNG) from the Wheatstone gas project in Western Australia.
US oil giant Chevron Corporation, the operator of the project in Ashburton North, announced on Tuesday that its Australian subsidiaries had signed a Heads of Agreement with KOGAS.
KOGAS, the largest LNG buyer in the world, will purchase 1.5 million tonnes of LNG per annum for 20 years.
The company also signed an agreement to acquire a five per cent stake in Chevron's Wheatstone field licenses and in the Wheatstone project LNG and domestic gas processing facilities.
Tuesday 20 July, 2010
SMH
