http://www.theaustralian.com.au/business/mining-energy/chevron-lands-20-year-kyushu-electric-lng-deal/story-e6frg9df-1226139317795
According to the article Chevron has signed a contract to transport liquefied natural gas to Kyushu Electric Power, Japan from Wheatstone reservoir, Australia. This contract will cover a twenty year time frame, in which 700,000 tons of LNG will be shipped. In my opinion, such a long term contract has a benefit. By this way, Japan provides itself with guaranteed energy source for a long time, so citizens won't worry about the future.
The article states "Many experts predict nuclear safety concerns in the wake of Japan's earthquake and tsunami earlier this year will boost demand for LNG, as some governments rethink plans to build new reactors." After such a disaster every country should reconsider its plans for nuclear energy for safety reasons.
The writer also asserts that Australia, with its ample gas reserves, can catch up to the biggest exporter of LNG, Qatar by the end of the decade. This supposition makes sense if Australia will continue to sign such large contracts.
I find this really interesting. I agree to the fact that this way Japan will guarantee its future energy source. Hopefully Australia will keep signing such contracts.
ReplyDelete700,000 tons is a really big amount. Japan's disaster has forced every country to rethink and may be improve their nuclear energy storage ways.
(engr103)