BG firms up Tokyo Gas CSG-LNG deal

Rick Wilkinson
OGJ Correspondent

MELBOURNE, Mar. 8 -- BG Group has finalized a contract with Tokyo Gas to supply 1.2 million tonnes/year of LNG from its Gladstone coalseam gas-LNG project and its global portfolio for 20 years from 2015.

Tokyo Gas will also take up to 1.25% in BG’s CSG reserves and resources in the Surat basin as well as a 2.5% interest in the second LNG train proposed for BG’s Curtis Island LNG plant near Gladstone.

The final deal follows a heads of agreement signed by the two parties last year.

BG gave the green light to it’s $14.8 billion (Aus.) two-train, 8.5 million tpy CSG-LNG project late in October 2010.

First LNG exports are scheduled for 2014.

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