Chubu Electric signs up for Gorgon gas

Tokyo: Chevron Corp said it signed a binding, 25-year sales agreement with Japanese utility Chubu Electric Power Co for annual supplies of 1.44 million metric tons of liquefied natural gas from the Gorgon project in Western Australia.
Chubu will take a 0.417 percent stake in Gorgon, leaving venture operator Chevron with about 47 percent of the project, which is expected to take five years to construct.  [17/12/09]