Sep. 10--SYDNEY -- The Australian subsidiary of energy giant Chevron Corp. has secured two deals to export up to A$70 billion (US$60 billion) worth of liquid natural gas to Japan for the next 25 years, Prime Minister Kevin Rudd told Parliament on Thursday.

Chevron will export LNG to Japan from the Gorgon Project off the northwest coast of Western Australia, the site of Australia's largest known gas reserves.

Under the agreements, Osaka Gas Co. and Tokyo Gas Co. will be supplied with 1.375 million tons and 1.1 million tons annually.

GS Caltex Corp. in South Korea has also signed an agreement to buy 500,000 tons each year for up to 20 years, Rudd said.

"Securing sales agreements with three major customers in Japan and Korea is a significant milestone in Chevron's efforts to commercialize our equity natural gas and grow our LNG business," John Gass, president of Chevron Global, said in a statement. "With Osaka Gas and Tokyo Gas, we have as foundation customers two of the most experienced LNG buyers in the largest LNG market in the world."

"The agreements with GS Caltex provide our initial entry into the important Korean LNG market and GS Caltex's first expansion from refining, petrochemicals and power into LNG," Gass added.

Rudd lauded the deals, saying they will "generate economic growth, jobs and prosperity for (Australia) for decades to come" He added Japan has been a "foundation investor" in Australia's LNG industry since its inception 25 years ago.

"Throughout the Asia Pacific, Australian LNG will be increasingly important as a reliable, secure, clean energy source to power continued economic growth," Rudd said.

In August, ExxonMobil Corp. secured a record deal to supply PetroChina Co. with A$50 billion worth of LNG for the next 20 years.

The Gorgon Project is a joint venture between Chevron Australia Ltd. and the Australian subsidiaries of ExxonMobil and Shell, with natural gas from the region expected to supply the operation for at least 40 years.

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