Tuesday 27 March 2012
Chevron in talks for Wheatstone buyers
Chevron are currently in talks with potential buyers for LNG that is produced by its $27.5bn Wheatstone project.
"At the moment we are over 60 per cent of the gas sold and we are certainly looking to get over 80 per cent," said Brian Smith, general manager of Wheatstone, adding that several parties were involved in the negotiations.
The project, that is owned by Chevron, was approved in September last year and phased construction of the project is in process.
The company's biggest customer for Wheatstone is Tokyo Electric Power Co. (9501.TO), known as Tepco, which has binding agreements to buy 3.1 million tons of LNG annually.
First gas is expected in 2016.