Sydney: Chevron Australia has entered into a 'heads of agreement' contract with the Japanese Nippon Oil Company to take 300,000 tonnes of natural gas per year from its Gorgon project.
The Gorgon Gas Project is under construction on Barrow Island off the north west coast of Western Australia.
The contract is for the first 15 years of Gorgon which at $40 billion will be the largest single resources project ever built in Australia.
The deal with Nippon Oil, believed to be worth $3 billion, comes on the back of other contracts to supply three million tonnes of LNG a year to Japan and South Korea, worth $70 billion in exports over 25 years. [08/01/10]
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