Chevron Corporation (NYSE:CVX) has signed an LNG supply deal with Verve Energy and Synergy.

Under this new deal, Chevron Corporation (NYSE:CVX) owned Gorgon liquefied natural gas (LNG) project in Western Australia will supply gas for energy suppliers Verve Energy and Synergy for 20 years term starting in 2015.

Chevron Corporation (NYSE:CVX) Australia’s MD Roy Krzywosinski said “the company was pleased to have finalised two significant long-term domestic gas sales contracts for the Gorgon project. Domestic gas is an important energy source for Western Australia and these contracts mean more gas competition for the local market. It demonstrates that the market is working.”

Chevron Corp. (NYSE:CVX) shares are currently standing at 102.82.

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