ExxonMobil finalizes PNG LNG sales to TEPCO

By doris | Published: December 7, 2009

Full Story at Reuters.com

TEPCO, Japan’s largest utility, has entered a binding agreement with project partners for the purchase of 1.8 million tonnes per year (mtpy) of liquefied natural gas (LNG) for a period of 20 years, Exxon said in a statement.

The contracted volume includes the plant’s recently expanded output of 0.3 mtpy, which means all of the project’s 6.6 mtpy capacity has now been contracted, project partner Oil Search (OSH.AX) said in a separate statement.

Exxon and partners have not yet finalized two other gas sale agreements with Taiwan’s CPC Corp and Japan’s Osaka Gas Ltd 9532. ahead of a self-imposed deadline of December 8 for the project’s final investment decision.

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