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Press Release (Dec 21,2006)
Conclusion of the Heads of Agreement on the Purchase of Liquefied Natural Gas with six Sellers of North West Shelf LNG

Tokyo Electric Power Co. (TEPCO) concluded the Heads of Agreement (HOA) on 
the purchase of liquefied natural gas (LNG) with six Sellers of North West 
Shelf LNG.

Currently, TEPCO is purchasing approximately 1.18 million tons per year 
based on the 20-year Sale and Purchase Agreement with six Sellers of 
North West Shelf LNG, and it will expire at the end of March 2009.

TEPCO has discussed the LNG purchase after April 2009, and today both 
parties have come to the conclusion of the HOA after April 2009.

Outline of Heads of Agreement:
1. Sellers: BHP Billiton Petroleum (North West Shelf) Pty. Ltd.
            BP Developments Australia Pty. Ltd.
            Chevron Australia Pty. Ltd.
            Japan Australia LNG (MIMI) Pty. Ltd.
            Shell Development (Australia) Pty. Ltd.
            Woodside Energy Ltd.
2. Buyer : TEPCO
3. Contract Period: April 2009 - March 2017 (8 years)
4. Contract Volume: approximately 0.3 million tons / year
5. Delivery: Ex-ship (Sellers arrange LNG ships and transport LNG to 
             the Buyer´s receiving terminals)


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