The Wheatstone project consists of two LNG processing trains each with a capacity of about 5.8 bcm/year and a domestic gas plant. The facility, located at Ashburton North, will be supplied primarily from Chevron's 100% interest in the Wheatstone Field and the Chevron-operated Iago Field. In July 2009, Chevron had awarded a major front-end engineering and design (FEED) contract to Bechtel Oil, Gas & Chemicals for the first phase of the project development. The final investment decision on the Wheatstone project is expected in 2011. In October 2009, Apache and KUFPEC respectively acquired 16.5% and 8.75% in the Wheatstone project. The two companies will provide natural gas from their Julimar and Brunello fields. Chevron remains the project operator. In December 2009, Chevron and TEPCO signed a 55.4bn Heads of Agreement for 5.6 bcm/year of LNG during 20 years from the project. TEPCO also intends to acquire 15% of Chevron's equity share in the Wheatstone field licenses and a 11.25% interest in the natural gas processing facilities to be developed onshore, near Onslow. In January 2010, Chevron signed a HoA with Kyushu Electric for receiving 0.95 bcm/year of LNG from the project. Under the agreement, Kyushu Electric also intends to acquire 1.83% of Chevron's equity share in the Wheatstone field licenses and a 1.37% interest in the Wheatstone natural gas processing facilities to be developed onshore near Onslow. Including this equity participation, Kyushu Electric will take delivery of 1.1 bcm/year of LNG from the Wheatstone Project.
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