Kansai Electric Buys LNG From ConocoPhillips Alaska Plant

Kansai Electric Power Co. (9503) purchased a shipment of liquefied natural gas from a ConocoPhillips plant in south-central Alaska that the U.S. producer had previously planned to mothball.

Kansai received the shipment on a tanker at the company’s terminal in western Japan on May 25, Kazushige Akita, a spokesman, said in a phone interview today. He declined to discuss the size of the cargo or whether Kansai planned additional purchases.

The shipment arrived on a tanker that can carry as much as 126,750 cubic meters of gas, according to Bloomberg ship- tracking data.

ConocoPhillips planned to preserve the plant in Nikiski on the Kenai Peninsula for possible future use after buying Marathon Oil Corp. (MRO)’s 30 percent stake in the facility, the company said in October.

Tokyo Electric Corp. and Tokyo Gas Co. previously had a joint deal to buy LNG from the plant. The contract, signed in 1969, expired in March 2011. Nobody answered a call to ConocoPhillips (COP)’ press office in Houston out of office hours.

To contact the reporter on this story: Jacob Adelman in Tokyo at jadelman1@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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