Chevron sells interest in Wheatstone to TEPCO

SAN RAMON, California – Chevron Corp.’s Australian subsidiary has signed agreements with Tokyo Electric Power Co. for TEPCO to acquire from Chevron 10% interest in Wheatstone gas field licenses and 8% interest in the Wheatstone gas processing facilities. TEPCO also will buy an additional 400,000 tons/year of LNG from the project.

Wheatstone will be one of Australia’s largest projects. It will consist of two liquefied natural gas trains with a combined capacity of 8.9 MTPA and a domestic gas plant.

This agreement does not involve Wheatstone participants Apache Energy or KUFPEC.

Source: Offshore