Chevron Corp. Unit Cuts Deal with Chubu Electric Power; Shares Edge Closer To Year Highs

By Staff,

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Chevron Corporation ( CVX ) announced that its Australian subsidiaries have signed binding long-term Sales and Purchase Agreements with Chubu Electric Power Company Inc. for liquefied natural gas ( LNG ) from the Wheatstone Project in Western Australia.

Under the agreements Chevron, together with Apache Energy and Kuwait Foreign Petroleum Exploration Company, will supply Chubu with 1 million tons per annum of LNG for up to 20 years.

CVX is up 0.2% at $120.41. Shares have traded in a day range of $120.09 - $120.73, and have a 52-week range of $95.73 - $121.50.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CVX , LNG

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