Wednesday, November 25, 2009

Chubu of Japan to buy part of Gorgon LNG project

Japanese utility Chubu Electric Power Co is to 0.417% of Australia's Gorgon LNG project from U.S. oil giant Chevron. The stake is said to be worth around $170 million.

Chubu also said it would buy 1.44 million tonnes of LNG per year from the project's operator Chevron for 25 years from 2014.

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