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Tokyo Gas imports first LNG from Australia's Gorgon

Published 12/09/2016, 06:38 pm
Updated 12/09/2016, 06:40 pm
© Reuters.  Tokyo Gas imports first LNG from Australia's Gorgon
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TOKYO, Sept 12 (Reuters) - Japan's biggest city gas supplier, Tokyo Gas Co 9531.T , said it has received its first liquefied natural gas (LNG) cargo from Chevron (NYSE:CVX) Corp's CVX.N $54 billion Gorgon export facility in Australia.

The "Energy Confidence" vessel carrying about 70,000 tonnes of LNG arrived on Saturday at the company's Ohgishima LNG Terminal in Yokohama, near Tokyo, a company spokesman said on Monday.

Chubu Electric 9502.T received Japan's first cargo from the project around April, a Chubu spokesman said.

Tokyo Gas signed a contract in 2009 to buy 1.1 million tonnes of LNG annually from the project for 25 years on a free-on-board (FOB) basis.

Production has resumed after the world's most expensive LNG project shut down in April due to technical problems shortly after exporting its first cargo. is a joint venture of the Australian subsidiaries of operator Chevron with a 47.3 percent stake, ExxonMobil XOM.N and Shell RDSa.L with 25 percent each, Osaka Gas 9532.T at 1.25 percent, Tokyo Gas 9531.T at 1 percent and Jera Co, the joint venture of Tokyo Electric Power 9501.T and Chubu Electric Power 9502.T , at less than 0.5 percent.

It will have the capacity to produce 15.6 million tonnes of LNG per year, after a second and third production line, known as trains, are added by 2017.

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