Chevron Corp said it sold more than 80 per cent of the gas from its Wheatstone project in Western Australia after signing a deal with Tohoku Electric Power Co.
The Japanese electricity supplier will buy as much as one million tonnes of liquefied natural gas (LNG) per year under a 20-year agreement, Roy Krzywosinski, managing director of Chevron's Australian unit, said. Wheatstone is off to a "flying start," Krzywosinski said.
"The Asian LNG market is certainly growing and we continue to see demand."
Chevron decided in September to go ahead with the A$29 billion (Dh106 billion) Wheatstone project, with the first shipment beginning in 2016.
The venture, along with the company's Gorgon project, are among seven LNG developments going ahead in the country to meet rising Asian demand. California-based Chevron said Gorgon and Wheatstone are at the centre of its global expansion plans.
Thirteen out of 14 wells drilled in Australia since 2009 have been successful, adding resources to underpin potential LNG plant expansions, Chevron said in March.