TKGSY Tokyo Gas Company Ltd (PK)

Inpex Corp. (1605.TO) said Tuesday it has signed 15-year contracts to sell liquefied natural gas from its multibillion dollar Ichthys gas-export project in Australia to five Japanese utilities.

Inpex said LNG cargoes will be shipped to Tokyo Electric Power Co. (9501.TO), Tokyo Gas Co. (9531.TO), Osaka Gas Co. (9532.TO), Kyushu Electric Power Co. (9508.TO) and Kansai Electric Power Co. (9503.TO).

Tokyo Electric Power and Tokyo Gas will each buy 1.05 million metric tons of LNG annually from the Ichthys project, with Osaka Gas and Kansai Electric each committed to take 800,000 tons every year. Kyushu Electric will take 300,000 tons annually, Inpex said.

Shipments are scheduled to begin from 2017, Inpex said at a press conference.

-By David Fickling, Dow Jones Newswires; +61-2-82724689; david.fickling@dowjones.com

Tokyo Gas (PK) (USOTC:TKGSY)
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