Apache, Partners Finalize Agreements To Sell LNG From Wheatstone To Tohoku
HOUSTON, Oct. 1, 2013
HOUSTON, Oct. 1, 2013 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA)
today announced that an Australian subsidiary and its partners have signed
long-term sales and purchase agreements with Tohoku Electric Power Company,
Inc. for liquefied natural gas from the Chevron-operated Wheatstone Project in
The Wheatstone partners have agreed to supply Tohoku Electric with 0.9 million
metric tons per annum (mtpa) of LNG for up to 20 years. Through its 13-percent
share in the Wheatstone Project, Apache Julimar Pty Ltd, an Apache subsidiary,
will supply 0.11 mtpa from natural gas (approximately 17 million cubic feet of
gas per day) produced at the Julimar and Brunello fields in offshore
production license WA-49-L.
"With completion of this agreement with Tohoku Electric, Apache has now sold
approximately 85 percent of its available LNG supplies from the Wheatstone
Project," said Janine McArdle, Apache's senior vice president of gas
monetization. "This is an important step forward for the Wheatstone Project
and Apache's plans to develop the world-class Julimar and Brunello natural gas
Apache and its partners previously announced heads of agreement with Tohoku.
This accord finalizes the terms of the HoAs.
Wheatstone, one of Australia's largest resource projects, is under development
at Ashburton North, 7 miles (12 kilometers) west of Onslow in Western
Australia. The foundation phase of the project will include two LNG trains
with a combined capacity of 8.9 mtpa and a domestic gas plant. Apache Julimar
Pty Ltd and KUFPEC Australia (Julimar) Pty Ltd, a subsidiary of Kuwait Foreign
Petroleum Co., will supply gas produced from the Julimar and Brunello fields.
Apache has a 65-percent interest in the upstream Julimar Development Project
and is the operator.
Apache Corporation is an oil and gas exploration and production company with
operations in the United States, Canada, Egypt, the United Kingdom, Australia
and Argentina. Apache posts announcements, operational updates, investor
information and copies of all press releases on its website,
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements can be identified by words
such as "anticipates," "intends," "plans," "seeks," "believes," "estimates,"
"expects" and similar references to future periods. These statements include,
but are not limited to, statements about the development of LNG facilities,
LNG marketing activities and future and exploration and production
developments in Western Australia. While forward-looking statements are based
on assumptions and analyses made by us that we believe to be reasonable under
the circumstances, whether actual results and developments will meet our
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SOURCE Apache Corporation
Contact: Media: Bill Mintz, (713) 296-7276, Patrick Cassidy, (713) 296-6100;
Investors: Brady Parish, Castlen Kennedy, Christopher Cortez, Alicia Reis,
(281) 302-2286; Website: www.apachecorp.com
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