SAN RAMON, Calif. (AP) -- Chevron Corp. said Monday that its Australian subsidiaries signed a nonbinding agreement to deliver, with Apache Energy and Kuwait Foreign Petroleum Exploration Co., up to 1 million tons of liquid gas each year to the Japanese power utility Tohoku Electric Power Co.
Chevron said the agreement will last up to 20 years. It didn't financial terms of the deal.
The natural gas liquids will come from the Chevron-operated Wheatstone natural gas project in Australia.
Chevron said more than 80 percent of its liquid natural gas from the Wheatstone development is now covered under long-term agreements with customers in Asia.
Shares of Chevron fell 75 cents to close at $101.94.