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Apache, partners finalize agreements to sell LNG to Chubu Electric

Apache Corporation (APA) announced that an Australian subsidiary and its partners have signed long-term sales and purchase agreements with Chubu Electric Power for liquefied natural gas from the Chevron-operated (CVX) Wheatstone Project in Western Australia. The Wheatstone partners have agreed to supply Chubu Electric with 1 million metric tons per annum of LNG for up to 20 years. Through its 13% share in the Wheatstone Project, Apache Julimar Pty Ltd, an Apache subsidiary, will supply 0.13 mtpa from natural gas produced at the Julimar and Brunello fields in offshore production license WA-49-L. Apache and its partners previously announced heads of agreement with Chubu. This accord finalizes the terms of the HoAs.