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Conclusion of a Heads of Agreement for Purchase of LNG from Brunei

March 15. 2012

Osaka Gas, in a consortium of buyers, namely Tokyo Electric Power and Tokyo Gas, has concluded today a Heads of Agreement with Brunei LNG Sendirian Berhad for a purchase of LNG.

Under the terms of the agreement, the buyers and the seller will move forward with discussions to conclude a new LNG sales and purchase contract.  Out of the total delivery of some 3.4 million tons in this project, Osaka Gas will purchase 370,000 tons of LNG starting in April 2013.

The new supply arrangement will be an extension of the existing contract which will expire in March 2013.

Notes:
1.Overview of HOA
Signing parties: Seller: Brunei LNG Sendirian Berhad
  Buyers: Tokyo Electric Power Co., Inc.
     Tokyo Gas Co., Ltd.
     Osaka Gas Co., Ltd.
Contract period: April 2013 – March 2023
Contract quantity: Tokyo Electric:2.03 million tons
(per annum) Tokyo Gas:1.00 million tons
  Osaka Gas:0.37 million tons
Delivery terms: Ex-ship
 
2.Brunei project location
 

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