Sydney (Platts)--6May2011/550 am EDT/950 GMT
UK-based BG Group has signed a sales and purchase agreement with Japan's Chubu Electric Power for the supply of LNG from its global portfolio, including the Queensland Curtis LNG project in eastern Australia, the company said in a statement Friday. Under the agreement, Chubu Electric will buy up to 122 cargoes, equivalent to just under 8 million mt, over 21 years starting in 2014. The signing concludes negotiations announced in October 2010. "We are very pleased to have a long-term partnership with Chubu Electric, one of the most experienced and innovative LNG buyers globally, and proud that we can assist in meeting the long-term energy needs of Japan," said BG Group Executive Director Martin Houston. Article continues below... Request a free trial of: LNG Daily LNG Daily is essential reading as LNG supply dynamics continue to change in big markets like Japan, China, India and the U.S. This premier independent news publication for the global LNG industry gives readers information on every aspect of the global market from new LNG supply projects to gas quality issues.
UK-based BG Group has signed a sales and purchase agreement with Japan's Chubu Electric Power for the supply of LNG from its global portfolio, including the Queensland Curtis LNG project in eastern Australia, the company said in a statement Friday. Under the agreement, Chubu Electric will buy up to 122 cargoes, equivalent to just under 8 million mt, over 21 years starting in 2014. The signing concludes negotiations announced in October 2010. "We are very pleased to have a long-term partnership with Chubu Electric, one of the most experienced and innovative LNG buyers globally, and proud that we can assist in meeting the long-term energy needs of Japan," said BG Group Executive Director Martin Houston.
Article continues below...
LNG Daily is essential reading as LNG supply dynamics continue to change in big markets like Japan, China, India and the U.S. This premier independent news publication for the global LNG industry gives readers information on every aspect of the global market from new LNG supply projects to gas quality issues.
BG subsidiary QGC is currently building a $15 billion, 8.5 million mt/year coalseam gas-based LNG project on Curtis Island in the Queensland port city of Gladstone. The company signed a sales agreement with Tokyo Gas in March this year for the supply of 1.2 million mt/year from the Queensland Curtis LNG project and the rest of its portfolio. That deal runs for 20 years from 2015. In addition, the company has agreements to supply 3.6 million mt/year for 20 years to China National Offshore Oil Corporation; 1.7 million mt/year to GNL Chile for 21 years; and up to 3 million mt/year to customers in Singapore for 20 years.--Christine Forster, christine_forster@platts.com
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