Liquefaction and export of natural gas produced in Australia

Wheatstone LNG is an LNG production and sales project, in which Mitsubishi Corporation, Nippon Yusen Kabushiki Kaisha, JERA Co., Inc., and Japan Oil, Gas and Metals National Corporation are participating through PE Wheatstone Pty. Ltd. (“PEW”, headquartered in Perth, Western Australia), which is the subsidiary of Pan Pacific Energy K.K. whose shareholders are the four companies aforementioned.

The project is led and operated by Chevron, producing LNG at the Ashburton North LNG production facilities in Western Australia, using natural gas from the Wheatstone and Iago gas fields off the northwestern coast of Western Australia. With two liquefaction trains, 8.9 million tons of LNG is produced, and approximately 700,000 tons per annum of LNG, proportionate to PEW's interest, is supplied to JERA Co., Inc. under long-term agreements.