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Osaka Gas to Buy LNG From Chevron Australia

Posted on: Thursday, 8 December 2005, 12:00 CST

By Kyodo News International, Tokyo

Dec. 8--OSAKA -- Osaka Gas Co. said Thursday it has reached an agreement with Chevron Australia Pty Ltd. to purchase some 1.5 million tons of liquefied natural gas annually from the latter for 25 years from fiscal 2010.

The LNG to be purchased will be produced at the Gorgon gas field off the coast of northwestern Australia, the Japanese gas producer said.

Osaka Gas also plans to further promote cooperation with Chevron Australia in the LNG business and is considering acquiring a concessions right on the Gorgon gas field.

The Gorgon Project, a project named after the gas field whose reserves are estimated at 1.1 trillion cubic meters, is now in progress, and Chevron Australia plans to ship the gas extracted from the field to Japan, North America and other parts of the Asia-Pacific region.

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Copyright (c) 2005, Kyodo News International, Tokyo

Distributed by Knight Ridder/Tribune Business News.

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Source: Kyodo News International, Tokyo

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