Tepco increases interest in Australian LNG

IRJ - June 18 - Japanese utility Tepco has increased its offtake and stake in Chevron's Wheatstone LNG project.

The utility has signed up for another 400,000 tonnes per year (t/y) for up to 20 years, which gives Tepco a total 4.2 million tonnes per year (Mt/y) as well as a 10 per cent participating interest in field licences and 8 per cent interest in the natural gas processing facilities. 

"This goes to show that Asian clients are still very keen to sign up for LNG from Australia and Chevron has now sold over 80 per cent of their equity LNG from Wheatstone," said Malcolm Graham-Wood, oil analyst at VSA Capital.