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TEPCO, Tokyo Gas, Osaka Gas agree to extend Bruneian LNG contract

The TEPCO headquarters building, center. (Mainichi)
The TEPCO headquarters building, center. (Mainichi)

TOKYO (Kyodo) -- Tokyo Electric Power Co., Tokyo Gas Co. and Osaka Gas Co. said Thursday they have reached a basic agreement with a Bruneian firm to extend their joint long-term contract on procuring liquefied natural gas by 10 years until 2023.

Under the agreement, Brunei LNG Sdn. Bhd. will provide 3.4 million tons of LNG a year to the three firms from April 2013 to March 2023, they said.

TEPCO will buy 2.03 million tons, Tokyo Gas will acquire 1 million tons and Osaka Gas will get 370,000 tons annually during the 10-year period, they added.

Brunei LNG is 50 percent owned by the Brunei government, with other investors including Japanese trading house Mitsubishi Corp.

TEPCO and the other two firms have been jointly procuring LNG from the Bruneian firm since 1972. It is the second time to renew their contract.

(Mainichi Japan) March 16, 2012

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