The sales and purchase agreement follows a heads of agreement signed between the two parties in March this year.
The deal lifts the Woodside-led joint venture’s LNG sales to Tohoku Electric to about 1 million tonnes a year from 2010. The agreement also ensures the total volume is delivered on an ex-ship basis.
“We believe this to be a statement of confidence in safe, secure and reliable supplies of LNG from the North West Shelf,” North West Shelf Australia LNG president Peter Cleary said in a statement.
The six equal partners in the North West Shelf LNG Venture are Woodside Petroleum, BHP Billiton, BP, Chevron, Japan Australia LNG and Royal Dutch Shell.