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Japanese consortium acquires an 8% stake in Chevron's Wheatstone LNG project

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Report summary

Chevron has announced that PE Wheatstone (PEW), a new special-purpose company backed by a Japanese public-private consortium, will purchase an 8% interest in the LNG plant and a 10% interest in the Wheatstone field licences. TEPCO, a participant in the consortium, will offtake PEW's entire equity LNG volumes of 0.7 mmtpa. This, in addition to separate purchase agreements totalling 3.5 mmtpa, takes TEPCO's total Wheatstone LNG offtake to 4.2 mmtpa. Our base case valuation of the ...

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    Japanese consortium acquires an 8% stake in Chevron's Wheatstone LNG project

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • TEPCO
    • Chevron
    • LNG and Condensate Pricing Assumptions
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

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Tables

  • Executive summary: Table 1
  • Transaction details: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1

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