Chevron signs five-year gas supply deal with Australia's Alinta Energy

Commodity
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Summary · why it matters

Chevron has signed a new five-year natural gas supply agreement with Australian energy retailer Alinta Energy, extending a partnership that has supplied Western Australia for more than 40 years. Under the deal, Chevron will supply 46 petajoules of gas over five years starting in July 2027 from its equity interests in the Gorgon and Wheatstone liquefied natural gas projects, as well as the North West Shelf Project. Chevron Australia President Balaji Krishnamurthy noted that Gorgon and Wheatstone together provide about 40 percent of Western Australia's domestic gas supply. The new agreement comes ahead of the expiration of a previous deal between the two companies for 20 petajoules per year over seven years starting in 2020. Alinta was acquired last year by Singapore's Sembcorp Industries for an enterprise value of A$6.5 billion.

Impact on stocks 2

Energy▲ · 1 stocks
Chevron Corp
CVX
▲ PositiveDemandrelevance

Chevron signs a new five-year gas supply deal with Alinta Energy, securing long-term demand for its gas from Gorgon and Wheatstone.

Others▲ · 1 stocks
Sembcorp Industries Ltd
SEMB19
▲ PositiveDemandrelevance

Sembcorp's subsidiary Alinta Energy secures a long-term gas supply, supporting its energy retail business.

Off-coverage companies 1

Alinta EnergyPrivate▲ Positive
Demandrelevance

Alinta Energy secures a five-year gas supply deal, ensuring feedstock for its retail operations.

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