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

By: MT Newswires
Posted: 3/28/2013 1:31:00 PM
Referenced Stocks: CVX;LNG

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.