Our Business / Investment ProjectsWheatstone LNG Project
Wheatstone LNG Project
The Wheatstone LNG Project mining site is located offshore the northwest coast of Western Australia. The natural gas produced from the offshore gas field undergoes processing and liquefaction at the Ashburton North plant before being sold. Operations began in 2017 with an expected LNG production of up to 8.9 million tons per year.
In 2012, Tokyo Electric Power Company (since renamed and referred to herein as “TEPCO”) in collaboration with Mitsubishi Corporation and Nippon Yusen acquired interest in this project (gas field development: 10%, LNG plant: 8%) led and operated by Chevron through PE Wheatstone Pty. Ltd. (hereinafter referred to as PEW) as well as a portion of the liquefied natural gas (LNG) produced from the project. The project was also approved by the Japan Oil, Gas and Metals National Corporation (JOGMEC) for providing equity financing and a loan guarantee.
In addition, TEPCO and Chubu Electric Power Company (“Chubu”) each have purchasing contracts for approximately 3.5 million and 1.0 million tons per year respectively, to purchase LNG for a maximum of 20 years. Combined with the 700,000 tons per year to be purchased from PEW, the expected annual LNG procurement is approximately 5.2 million tons.
In July 2016, JERA succeed to the project and purchase contracts from TEPCO Fuel & Power and Chubu.
Wheatstone LNG Project Outline
|Gas Field||Approx. 200km offshore Onslow,
Ashburton North, Western Australia
|Production Capacity||Approx. 8.9 MTPA|