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Published: Oct 12, 2006

MELBOURNE, Oct 12 Asia Pulse – Australia’s largest resources project, The North West Shelf Venture (ASX:WPL), has signed a deal with Chubu Electric of Japan for the ongoing supply of liquefied natural gas.

In a seven-year deal starting in April 2009, the $A14 billion ($US10.37 billion) West Australia-based North West Shelf Venture (NWSV) will supply over 24 trillion British thermal units of liquid natural gas (LNG) – almost 500,000 tonnes – a year to Chubu Electric on an ex-ship basis.

NWSV’s six main participants in NWSV are Woodside Petroleum Ltd, BHP Billiton Ltd (ASX:BHP); BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd and Shell Development (Australia) Pty Ltd.

Chubu Electric, Japan’s third largest power utility, is the third of the NWSV’s original Japanese LNG customers to renew its long-term LNG supply requirements this year.

Chubu’s service area, centred around Nagoya, is home to more than 15 million people and accounts for over 20 per cent of Japan’s total industrial output.

Chubu Electric is one of the venture’s long-standing customers, having signed a foundation contract in 1985 that ends in March 2009.

Each year the North West Shelf produces more than 7.5 million tonnes of LNG, with the majority of sales going to Japanese customers under long-term contractual agreements.

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